The United States Federal National Mortgage Association (Fannie Mae) is set to accept mortgages backed by cryptocurrencies soon, the Wall Street Journal reported on Thursday.
The media outlet explained that home buyers will get a chance to make a down payment using Bitcoin, as well as other virtual currencies. However, once a digital currency has been pledged, it can no longer be traded.
Better Home & Finance, alongside Coinbase Global Inc., will be unveiling a new mortgage product later today that will allow customers to put their crypto holdings to use when purchasing a Fannie-backed mortgage.
https://breakingthenews.net/Article/Fannie-Mae-said-to-take-crypto-backed-mortgages/65957733
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