These seven years have seen tremendous change.

In 2017, discussions were about whether you could buy Crypto.
In 2026, discussions are about whether you can use Crypto to buy a house.
Crypto assets are transforming from "speculative assets" into "collateralized assets."
This time, a related state-owned enterprise in the U.S. real estate sector—Fannie Mae—is involved. The same Fannie Mae that was a key player in the 2008 "subprime mortgage crisis" is now planning to offer Crypto-backed mortgages.
Mortgage service provider Better Home(NASDAQ:BETR) and Crypto exchange Coinbase(NASDAQ:COIN) have launched a new product:
When you apply for a mortgage to buy a house, you can use your Crypto assets as collateral for the down payment, without selling them for cash.
Although Crypto-backed home purchases are not entirely new—similar products have existed on the market—what’s notable this time is Fannie Mae’s involvement.
The ideal scenario for this approach is:
Buy a house → Use Crypto assets as collateral for the down payment → Obtain a mortgage → House appreciates + Crypto assets remain in your possession.
Fannie Mae, essentially, is the "national team" of the U.S. mortgage market.
It doesn’t lend money directly to homebuyers but instead: buys mortgages from banks, allowing banks to continue lending.
It acts as a "funding pump" for the mortgage market, ensuring homebuyers can get financing when purchasing a home.
Founded in 1938, it is backed by the U.S. federal government and regulated by the Federal Housing Finance Agency. Its primary service targets middle- and low-income families.
The 2008 "subprime mortgage crisis" caused many major financial institutions in the U.S. to falter. Fannie Mae and Freddie Mac were taken over by the government after collapsing, Lehman Brothers went bankrupt, marking a pivotal event in the global financial crisis.
This time, Fannie Mae’s involvement in supporting Crypto-backed mortgages sends a clear signal: mainstream financial systems are starting to take Crypto assets seriously.
Xiaohuihui believes this is a genuine positive for the Crypto industry, but also worries that Fannie Mae might mismanage risks or mess up, especially since it already had a major failure a decade ago.