Coinbase Says First Fannie Mae-Backed Bitcoin Mortgage Closed in US, Nationwide Expansion Planned This Summer

The first Bitcoin-backed home mortgage in the US has been closed.

Coinbase said in a post on its official X account on June 4 that the first Fannie Mae-backed mortgage tied to Bitcoin had been completed in the US. Fannie Mae is one of the country's two major housing finance companies.

The mortgage was originated and is being serviced by mortgage fintech Better, while Coinbase provides the infrastructure. Coinbase added that the service will expand nationwide this summer.

The Wall Street Journal reported in March that Fannie Mae was set to introduce crypto-backed home mortgages in the US for the first time.