Coinbase has rolled out a Bitcoin-backed mortgage-related lending service in the United States, allowing homebuyers to use their BTC holdings as collateral for a down payment. The service lets borrowers access home purchase funding without selling their Bitcoin, according to the item cited by Techub News. The report also says users will not face margin call requirements under the product structure. Coinbase says the offering is designed to help customers keep exposure to potential upside in Bitcoin while securing funds for a home purchase. The update was cited from CoinDesk in the original brief.
Coinbase has launched a Bitcoin-backed lending service in the United States that allows homebuyers to use their BTC holdings as collateral for a down payment, according to a brief carried by Techub News and citing CoinDesk.
The service allows borrowers to avoid selling their Bitcoin and does not require margin calls, the brief said. Coinbase said the product is intended to let users retain potential upside in Bitcoin while obtaining funds for a home purchase.
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