Better Mortgage and Coinbase launched general availability of a token-backed conforming mortgage product, allowing Coinbase One members to pledge crypto like Bitcoin and USDC as collateral without selling holdings. Designed under Fannie Mae guidelines, the loans are originated by Better Mortgage and powered by Coinbase. Approved borrowers receive a 1% lender credit up to $10,000. The launch follows a June 2026 waitlist representing over $260 million in projected loan volume.
Crypto-backed mortgage general availability
- ▪The crypto-backed mortgages are originated and serviced by Better Mortgage and powered by Coinbase.
- ▪Better Mortgage and Coinbase launched general availability of a token-backed conforming mortgage product on August 12, 2026, allowing eligible borrowers to use crypto assets in the underwriting process without selling their holdings.
Fannie Mae conforming loan structure
- ▪Better Mortgage and Coinbase first announced their token-backed mortgage partnership in March 2026.
- ▪The first lien of the crypto-backed mortgage is structured as a standard conforming mortgage designed in accordance with Fannie Mae guidelines.
Bitcoin USDC collateral mechanics
- ▪Eligible Coinbase One members can pledge cryptocurrency as part of the mortgage underwriting process while maintaining their investment positions.
- ▪The crypto-backed mortgage product supports Bitcoin and USDC as collateral for the down payment, as announced by Better Mortgage and Coinbase in June 2026.
Coinbase One member incentives
- ▪Better Mortgage is extending the 1% lender credit rebate across other eligible financing products, including standard mortgages, home equity lines of credit, and refinances.
- ▪Coinbase One members approved for an eligible Better Mortgage loan can receive a lender credit equal to 1% of the mortgage value, capped at $10,000, applied toward closing costs.
Waitlist demand borrower demographics
- ▪Among the waitlist respondents for the crypto-backed mortgage, 76% were already Coinbase One members and 60% planned to purchase a home within six months.
- ▪A waitlist opened in June 2026 for the crypto-backed mortgage represented more than $260 million in projected loan volume prior to general availability.
Homeownership access expansion rationale
- ▪Ziggy Jonsson, chief technology officer at Better Mortgage, stated that the partnership aims to expand homeownership access for a generation of borrowers whose wealth increasingly lives onchain.
- ▪Better Mortgage reported that 41% of its pre-approved customers qualify based on income and credit but lack sufficient cash for a traditional down payment.
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