Uwm See Progress, Plans To Accept Bitcoin For Mortgage Payments

A Bitcoin-backed mortgage permits the asset holder to borrow fiat currency like Rupees or Dollars after fronting-up their BTC as collateral. Other potential risks embrace how the currency may be used to disguise the source of money derived from criminal activities and thus be a car for cash laundering. The concept garnered important media attention in December when Toronto-based lender Ledn announced a $70-million investment for building a Bitcoin-backed mortgage product.

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