Better and Coinbase Launch Bitcoin-Backed Mortgage Loans with Collateral Reuse

Fintech firm Better has partnered with Coinbase to launch a Bitcoin-backed mortgage loan service. The product features a collateral reuse mechanism that allows borrowers to retain ownership of their assets while increasing the utility of their collateral. This structure provides borrowers with more flexible credit lines and helps avoid potential tax liabilities associated with selling Bitcoin to fund home purchases. The service is currently in a pilot phase for select users, with loan terms determined by the applicant's crypto asset value and credit profile