Better, Coinbase launch crypto-backed conforming mortgage

Better Mortgage and Coinbase have launched a token-backed conforming mortgage for general availability, expanding a previous limited rollout for eligible Coinbase One members.

Better will originate and service the mortgage under Fannie Mae guidelines, with the first lien treated as a standard conforming loan. Coinbase One members approved by Better can also receive a lender-funded closing cost credit equal to 1% of the mortgage value, capped at USD $10,000.

The rebate is not limited to the token-backed mortgage. It also applies to Better's other home-financing products, including standard mortgages, home equity lines of credit, and refinances.

The offer links the mortgage market with digital asset holdings by allowing borrowers to pledge crypto as collateral during underwriting instead of selling those assets. The companies are targeting borrowers whose wealth is held in digital tokens but who want access to mainstream mortgage products.

Early figures from the initial waitlist suggest strong interest ahead of the wider launch. According to Better and Coinbase, 76% of waitlist respondents were already Coinbase One users, while 60% said they planned to buy a home within six months.

The companies also said the waitlist indicated more than USD $260 million in projected loan volume before the product moved to general availability. They are now broadening the offer beyond the original crypto-linked mortgage to include more traditional borrowing products for Coinbase's membership base.

Borrower demand

The launch is framed around affordability pressures and a changing borrower profile. The companies pointed to high borrowing costs, elevated home prices, and limited housing supply as barriers that have made it harder for first-time buyers to enter the market.

Better also cited a median age of 40 for first-time homebuyers in 2025, arguing that younger, digitally native investors may hold a meaningful share of their wealth in crypto rather than cash savings. The product is aimed at those borrowers who may want to preserve investment exposure while seeking financing for a home purchase.

In a statement, Better's Chief Technology Officer linked the wider launch to that shift in household balance sheets.

"This partnership has always been about expanding access to homeownership by meeting borrowers where they are," said Ziggy Jonsson, Chief Technology Officer, Better Mortgage. "In 2025, high interest rates, record home prices, and limited inventory pushed the median age of a first-time homebuyer to 40. Coinbase counts millions of monthly users worldwide, and by allowing Coinbase One members to pledge crypto as collateral without selling their holdings, we're opening a new path toward homeownership for a generation of borrowers whose wealth increasingly lives onchain."

Mortgage structure

The conforming label is central to the launch because it places the first lien within established mortgage guidelines rather than outside the conventional market. That may make the product easier for borrowers to understand than earlier crypto-linked loans that sat outside the usual framework of agency-backed housing finance.

For Better, the arrangement broadens the range of products it can market to Coinbase users. Instead of offering only a specialist crypto-backed mortgage, it can now extend the same membership rebate to standard mortgages, home equity borrowing, and refinancing.

Coinbase said the partnership gives its subscription members another way to use digital assets in mainstream financial decisions. The company presented the offering as an extension of existing customer trust in its platform.

"Our members already trust Coinbase for their financial lives. This extends that trust to one of the biggest financial decisions they'll ever make," said Ben Shen, Head of Financial Services & Loyalty products, Coinbase. "By enabling borrowers to pledge their digital assets in the mortgage underwriting process, we are allowing crypto to be more useful and powerful in the real world - expanding the pathways to homeownership while preserving long-term investment positions."

The launch also reflects a broader effort across financial services to connect digital assets with traditional lending and consumer finance products. In this case, Better is using a mainstream mortgage framework, while Coinbase provides access to a customer base already familiar with holding crypto as part of personal wealth.

The expanded offer is available to Coinbase One members applying for eligible mortgage products, including standard mortgages, HELOCs, and refinances, with the lender credit shown directly on the borrower's closing disclosure.