Several years ago, the prevailing bear case against bitcoin was that there simply was no use for the digital currency: one can buy up all of it, but b

Second-Largest US Mortgage Lender To Accept Payment In Bitcoin

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2021-08-30 11:30:06

Several years ago, the prevailing bear case against bitcoin was that there simply was no use for the digital currency: one can buy up all of it, but besides selling to a "greater fool" there was simply no other use for the digital token. Since then thing have changed a lot: not only is institutional adoption now rampant with corporations and asset managers loading up, but increasingly merchants are bracing for the inevitable popular adoption of cryptos as a payment mechanism, with both Walmart and Amazon quietly building out an internal infrastructure to accept and transact in various cryptocurrencies. And soon, Americans will be able to pay down their mortgage debt in bitcoin first, and soon other cryptos.

Last week, United Wholesale Mortgage - second-largest mortgage lender in the US - announced it was planning to accept Bitcoin for home loans in 3Q21 and is evaluating on accepting other cryptocurrencies like ether.

The revelation that United Wholesale Mortgage will start taking crypto payments sometime in Q3 was made during its earnings call last week. The company said it would will start taking bitcoin payments first, and is researching in consideration of adding ether and other cryptocurrencies later. Its CEO, Mat Ishbia, stated: