Fannie Mae to accept crypto-backed mortgages in first for US housing finance: WSJ
Fannie Mae will accept crypto-backed mortgages, allowing homebuyers to use digital assets as collateral for loans.Summary
Fannie Mae is set to accept crypto-backed mortgages in a first for U.S. housing finance, developed in collaboration with Better Home & Finance and Coinbase. This will enable borrowers to utilize their cryptocurrency holdings as collateral without needing to convert them to cash. As a major player in the U.S. mortgage market, Fannie Mae’s move signals a significant shift in the acceptance of digital assets within traditional finance. While details are still limited, the initiative aims to integrate crypto wealth into mainstream financial channels, aligning with a broader trend of crypto integration into retirement markets and investment products, as seen with the NYSE and Nasdaq. The eligible cryptocurrencies, collateral valuation methods, and risk parameters are yet to be determined.
(Source：The Block)