Coinbase, Better Expand Token-Backed Mortgages to Coinbase One Members
U.S. homebuyers with wealth tied up in crypto have typically had to sell assets to fund a down payment, potentially triggering taxes and surrendering future upside. Better Mortgage and Coinbase are addressing that constraint by pairing a standard conforming mortgage under Fannie Mae guidelines with a separate loan secured by digital assets. The structure allows eligible borrowers to retain their holdings while using them in the home-buying process, marking another step in crypto’s integration into mainstream U.S. mortgage finance.
Better and Coinbase said on Aug. 26 that the product had become generally available to Coinbase One members on Aug. 12, following its initial announcement in March and a June waitlist. Eligible customers can pledge bitcoin or USDC toward a down payment without selling the assets. Approved borrowers using qualifying Better mortgages, home-equity lines of credit or refinancings receive a lender credit equal to 1% of the mortgage value, capped at $10,000, toward closing costs. Before the full rollout, the waitlist represented more than $260 million in projected loan volume.
All Coverage
3 original reportsThe Backstory
The history behind this eventCoinbase and Better Unveil Crypto-Backed Mortgage Program
In June 2025, the U.S. Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to explore including crypto assets held by regulated exchanges in mortgage assessments. Coinbase and Better use a two-tier financing structure: a conforming loan that meets Fannie Mae guidelines, paired with a down-payment loan backed by Bitcoin or USDC. This allows homebuyers to avoid selling their crypto and defer capital gains taxes.
On June 4, 2026, Better and Coinbase announced the completion of the first Fannie Mae-backed mortgage secured by Bitcoin. The borrowers were a first-time homebuying couple in their 30s in Ann Arbor, Michigan. The program is expected to roll out nationwide in summer 2026 with 15- and 30-year fixed-rate options. A decline in crypto prices will not trigger a margin call, while Coinbase One members can receive a closing-cost credit equal to 1% of the loan amount, capped at $10,000.
Coinbase Launches Crypto-Backed Loans in UK
Crypto-backed loans allow holders to access liquidity without selling their assets, but expose them to changing interest rates and the risk of collateral liquidation. Coinbase completed its registration with the UK Financial Conduct Authority in February 2025 and is now expanding its lending business as Britain prepares to implement a cryptoasset regulatory framework in 2027.
Coinbase launched the service in the UK on April 20, 2026, allowing customers to pledge BTC, ETH or cbETH and borrow up to $5 million in USDC through the Morpho protocol on Base, with rates that fluctuate according to market conditions. The U.S. version, launched in January 2025, had originated more than 2.17 billion USDC in loans as of April 14, 2026. Coinbase One members can also earn USDC rewards of up to 3.5% annually.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.
If you search news on Google, you can set Mark Radar as a preferred source—our coverage will show up more often in your results. Set as preferred source on Google →