TechFlow news: On March 29, economist Peter Schiff posted on X stating that crypto-asset-backed mortgage loan structures could significantly increase home-buying costs. Borrowers must not only pay interest on traditional mortgages but also bear interest on a “second loan” secured by crypto assets—a model that effectively provides 100% financing for the property, thereby amplifying leverage and potentially increasing overall default risk.
Earlier reports indicated that Coinbase has launched its first compliant crypto-backed mortgage product, enabling users to pledge Bitcoin or USDC held in their Coinbase accounts to cover home purchase down payments.
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