Framework Ventures to Help Better With DeFi Play

Venture capital firm Framework Ventures has partnered with mortgage services company Better to support a $500 million initiative aimed at integrating with the decentralized finance protocol Sky (formerly MakerDAO). Framework will help Better provide $500 million in credit to Sky’s stablecoin ecosystem, enabling the issuance of tokens tied to mortgages that generate yield. Framework Ventures co-founder Vance Spencer highlighted that real-world assets, like government-backed conforming mortgages, represent a crucial frontier in DeFi. Furthermore, Framework reportedly struck a deal to acquire 10% of Better’s stock, valued around $45 million. Initially, the resulting tokens, potentially named “Home Token,” will only be available to accredited investors, though Better CEO Vishal Garg expressed plans to eventually expand access to consumers. Garg stated the move into crypto is driven by the potential for significantly lower fees and operating costs by removing layers of intermediation, which should result in cheaper mortgages for consumers.

(Source：Cointelegraph)