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Crypto
Bitcoin now for wealth managers as SEC custody rule stirs Coinbase
A proposed U.S. Securities and Exchange Commission rule on digital asset custody could expand investment advisers’ direct holdings of bitcoin and broaden client access, a forecast said. Coinbase, which provides custody infrastructure for most bitcoin exchange-traded funds, highlighted potential benefits from an expanding regulated wealth management market. Coinbase executives said clearer rules could make it easier for institutional money to enter, while direct holdings and ETFs could both grow. Coinbase also pointed to progress on clearing, tokenisation and stablecoin payments.
Crypto
Coinbase raises USDC rewards to 3.75 percent after U.S. Senate stalls Clarity bill
Coinbase raised the USDC reward rate for subscribers to its paid Coinbase One service to 3.75 percent shortly after the U.S. Senate failed to launch consideration of the Clarity bill. The USDC reward is calculated daily based on balances and applies to members holding at least $1 in USDC. The timing drew attention as the bill included separate limits on rewards offered by stablecoin issuers and related services.
Crypto
U.S. homebuyers can use bitcoin as collateral for mortgage as Better, Coinbase launch product
A new mortgage product in the United States allows homebuyers to use bitcoin to fund a down payment without selling it. Better Mortgage, part of Better Home Finance, and Coinbase opened the product to retail customers. Borrowers must pledge bitcoin worth at least 250 percent of the down payment loan and repay both loans monthly. Late payments of more than 60 days can trigger liquidation of the collateral.
