Better Mortgage (NASDAQ: BETR) and Coinbase (NASDAQ: COIN) have announced the general availability of a token-backed, conforming mortgage product, according to a press release from the companies. The mortgages will be originated and serviced by Better and are designed in accordance with Fannie Mae guidelines.

Coinbase One members who are approved for a loan through Better will be eligible for a lender-funded closing cost credit equal to 1% of the mortgage value, up to $10,000. The credit applies to all of Better's home-financing products, including standard mortgages, home equity lines of credit (HELOCs), and refinances. The expanded offer became available to eligible Coinbase One members on August 12, 2026.

The product allows borrowers to pledge digital assets as collateral in the mortgage underwriting process without selling their holdings. Better and Coinbase opened a waitlist for an earlier version of the product in June and reported that 76% of respondents were already Coinbase One users, 60% planned to buy within six months, and projected loan volume exceeded $260 million before general availability.

"In 2025, high interest rates, record home prices, and limited inventory pushed the median age of a first-time homebuyer to 40," said Ziggy Jonsson, Chief Technology Officer at Better Mortgage. "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."

Ben Shen, Head of Financial Services and Loyalty products at Coinbase, said the offering "enabling borrowers to pledge their digital assets in the mortgage underwriting process" allows crypto to function in real-world financial decisions while "preserving long-term investment positions."