USDC.Homes
Uncollateralized DeFi mortgage taken out on Austin condo via Teller
A new homeowner has bought an apartment in Austin, Texas through a program that allows crypto holders to take out traditional uncollateralized mortgages based on their credit scores. The USDC.homes crypto mortgages platform issued its first crypto loan to an Austin resident who bought a $680,000 condo with a $500,000 loan issued in USD Coin (USDC) stablecoin over the Polygon (MATIC) network. This new platform combines practices from traditional lending markets such as leveraging a borrower’s credit score to determine eligibility with new decentralized finance (DeFi) innovations such as cryptocurrency staking to help pay off the balance. Today, we’re excited to debut https://t.co/26BgeWPd0Z and announce the arrival of crypto mortgages to Texas! <1/6> Read morehttps://t.co/I3wcbfZXRY —...
