Digital mortgage lender Better has partnered with cryptocurrency exchange Coinbase to roll out a crypto-backed mortgage service, according to Techub News, which cited @Cointelegraph. The offering allows borrowers to use digital assets such as Bitcoin as collateral when applying for a home loan, letting them seek mortgage financing without selling their crypto holdings. The partnership is aimed at giving crypto holders another way to put their assets to work while entering the traditional real estate market. Specific loan terms have not yet been released. Better and Coinbase said details including which cryptocurrencies will be accepted and the loan-to-value ratio will be announced later. The report did not provide a launch timeline or additional product parameters.
Digital mortgage lender Better has partnered with cryptocurrency exchange Coinbase to launch a crypto-backed mortgage service, according to Techub News, citing @Cointelegraph.
The service allows borrowers to apply for home loans using digital assets such as Bitcoin as collateral, without having to sell their crypto holdings.
Product details to be released later
The partnership is designed to give cryptocurrency holders a new way to use their assets while participating in the traditional real estate market.
Specific loan terms, including supported cryptocurrencies and loan-to-value ratios, will be announced by the two companies at a later date.
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