Coinbase Partners with Better to Launch Token-Backed Mortgage Product

Coinbase has officially launched a token-backed compliant mortgage product in collaboration with Better Mortgage. The product is issued and serviced by Better, while Coinbase provides technical support, adhering to Fannie Mae guidelines. Coinbase One members who receive loan approval can enjoy a cashback of 1% on the loan amount, up to $10,000, which can be used to offset settlement costs in the form of lender credits. This applies to all housing finance products offered by Better, including standard mortgages, home equity lines of credit (HELOC), and refinancing services. Based on early demand, the product opened its waitlist in June this year, with 76% of applicants being Coinbase One users, and 60% indicating plans to purchase a home within six months, with expected loan volume exceeding $260 million.

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