Coinbase and Better launch conforming crypto-backed mortgages using BTC or USDC

Coinbase and Better Home & Finance have put into operation what they describe as the first U.S. conforming crypto-backed mortgage, letting borrowers use Bitcoin or USDC as collateral for a Fannie Mae-backed home loan without selling their holdings. The structure applies collateral haircuts—BTC at 40% of market value and USDC at 80%—and requires eligible assets to be held on U.S.-regulated exchanges with AML compliance and at least 60 days of documented holding history.