Prospective homebuyers who have invested in certain cryptocurrencies will be able to use their holdings as collateral to fund their down payment on a home as part of a new mortgage offering.
Real estate services company Better Home & Finance Holding Co. plans to roll out the crypto-backed mortgage sometime in the next three months in a partnership with crypto trading platform Coinbase, the companies said in a press release Thursday.
“Better was founded to make homeownership more accessible for all Americans, and this partnership with Coinbase introduces a new pathway to realizing the American Dream for the 52 million Americans who own digital assets,” said Vishal Garg, Better’s CEO, said in the release.
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