The launch allows crypto investors to convert onchain wealth into home-buying power without having to sell their holdings.
- Coinbase One users can pledge crypto without selling it via Better Mortgage’s crypto-backed mortgage program.
- For Coinbase One customers, Better would offer 1% lender credit on mortgages, HELOCs, and refinances up to $10,000.
- The initiative comes under Fannie Mae’s guidelines, with a queue indicating substantial demand for over $260 million in loans.
Shares of Coinbase (COIN) and Better Mortgage (BETR) both traded lower on Wednesday after the firms announced that they would provide crypto owners the ability to purchase property with Bitcoin (BTC) and other cryptocurrencies without needing to sell the tokens themselves.
The two firms said the crypto-backed mortgage is available to eligible Coinbase One users. Better would give as much as $10,000 in closing costs credits to the users who qualify and the credit will be applied against closing expenses. It will also be shown on the borrower’s closing disclosure.
How Will It Work?
According to the companies, the 1% lender credit applied to all of Better’s home financing products offered to Coinbase One members, including standard mortgages, home equity line of credit (HELOCs) and refinances. The expanded offer became effective mid August.
The company said that the first-lien product was built within Fannie Mae’s guidelines so it resembles a conventional mortgage, but with crypto assets pledged as part of the underwriting process.
COIN stock was down over 2% during morning trade, amid broader market weakness. On Stocktwits, the retail sentiment around COIN remained in the ‘extremely bullish’ zone, while chatter around it stayed at ‘high’ levels over the past day.
BETR stock, on the other hand, was down 0.8% during morning trade. On Stocktwits, the retail sentiment around BETR remained in the ‘neutral’ zone, while chatter around it stayed at ‘low’ levels over the past day.
Gauging Demand For On-chain Investors
At first, the organizations tested demand with a crypto-backed mortgage waitlist in June 2026 which found that 76% of the respondents were already Coinbase One members and 60% said they expected to buy a home within six months. The firms reported that the queue had more than $260 million in potential loan volume before the full distribution.
Why Now?
Ziggy Jonsson, Chief Technology Officer at Better Mortgage said allowing Coinbase One members to pledge crypto as collateral without selling their holdings was geared towards “a new path toward homeownership for a generation of borrowers whose wealth increasingly lives onchain.”
Jonsson said that the typical age of a first-time homebuyer reached 40 in 2025 because of record-high mortgage rates, low inventory, and high home prices. He said that the program’s goal is to give borrowers whose wealth is mostly in crypto assets another way to become homeowners.
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