Better Home & Finance Holding Co., the parent of digital lender Better.com, and Coinbase have launched a token-backed product that allows qualified borrowers to pledge Bitcoin or USDC as collateral for a conforming mortgage down payment, without selling their digital assets.

The product, announced Thursday, is originated and serviced by Better, with Coinbase providing digital asset custody. The structure keeps the first-lien mortgage inside the conventional, Fannie Mae-eligible box while moving crypto exposure into a separate, privately financed loan secured by pledged tokens. If the model scales and gains investor acceptance, it could create a new down payment channel.

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