Coinbase Reveals First Mortgage With Bitcoin Collateral Under Fannie Mae Coverage
Nearly four months after crypto exchange Coinbase and the Federal National Mortgage Association—better known as Fannie Mae—announced their partnership, the companies have now disclosed what they describe as the first-ever mortgage backed by crypto collateral. No Need To Sell Crypto The concept was originally unveiled in March, when Better Home & Finance and Coinbase announced a joint mortgage product designed for prospective homebuyers who hold crypto but struggle with the cash requirements of traditional financing. Instead of requiring customers to liquidate their digital holdings to raise down payment funds, the Coinbase program allows borrowers to pledge crypto—such as Bitcoin (BTC) or Circle’s USDC stablecoin held in a Coinbase account—so those holdings can secure a separate loan intended to cover the down payment. Importantly, the actual home mortgage remains a conventional Fannie Mae–backed loan, meaning the structure is built around the existing conforming mortgage framework