Share this article
Second-Biggest Mortgage Provider in US Stops Accepting Crypto Payments
United Wholesale Mortgage’s announcement comes only about six weeks after it said it would begin offering a crypto payment option via a pilot program.
By James Rubin
Updated May 11, 2023, 4:07 p.m. Published Oct 14, 2021, 10:37 p.m.
Make us preferred on Google
United Wholesale Mortgage, the second-largest mortgage lender in the U.S., has stopped accepting cryptocurrency for home loans, the company said on Thursday.
- In August, the company said it would start offering the crypto payment option via a pilot program to gauge demand for this service. It was the first mortgage lender to do so.
- “As we said last quarter, we were going to look into accepting cryptocurrency and test it to see if it’s a faster, easier and cheaper solution,” the company’s CEO, Mat Ishbia, said in a press release. “Due to the current combination of incremental costs and regulatory uncertainty in the crypto space, we’ve concluded we aren’t going to extend beyond a pilot at this time.”
- The Pontiac, Mich.-based company began trading on the New York Stock Exchange in January after a merger with Gores Holdings IV, a special purpose acquisition company (SPAC) at a $16.1 billion valuation for the combined entity.
- United Wholesale Mortgage tried bitcoin, ether and dogecoin and worked with a number of different borrowers to evaluate the crypto lending process, according to CNBC. The network reported that only six homeowners participated in the program.
Read more: US Mortgage Lender UWM Plans to Accept Bitcoin Payments
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How the ultra-wealthy are using bitcoin to fund their yacht upgrades and Cannes trips
Cometh founder Jerome de Tychey is applying DeFi lending and borrowing on platforms like Aave, Morpho, and Uniswap to structures that help the ultra-wealthy secure loans against their massive crypto fortunes.
What to know:
- Wealthy investors who hold much of their fortune in crypto are increasingly turning to decentralized finance platforms to secure flexible credit lines without selling their digital assets.
- Firms like Cometh help family offices and other rich clients navigate complex DeFi tools, using assets such as bitcoin, ether and stablecoins to replicate traditional Lombard-style collateralized loans.
- DeFi loans can be faster and more anonymous than traditional bank credit but carry volatility and liquidation risks, and Cometh is also experimenting with applying DeFi strategies to traditional securities via ISIN-based tokenization.
Top Stories
