Coinbase Says First Fannie Mae-Backed Bitcoin Mortgage Closes in US, Nationwide Rollout Due This Summer
Summary
- Coinbase said the first Fannie Mae-backed mortgage based on Bitcoin (BTC) has been completed in the US.
- Mortgage fintech Better issued and services the loan, while Coinbase provides the infrastructure.
- Coinbase added that the service will expand across the US this summer.
Forecast Trend Report by Period
The first Bitcoin-backed home mortgage in the US has been completed.
Coinbase said on its official X account on June 4 that the first Fannie Mae-backed mortgage based on Bitcoin had closed in the US. Fannie Mae is one of the country's two major housing finance agencies.
Mortgage fintech Better issued and services the loan, while Coinbase provides the infrastructure. Coinbase added that the service will expand nationwide this summer.
The Wall Street Journal reported in March that Fannie Mae was set to introduce a cryptocurrency-based mortgage product for the first time in the US.
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