United Wholesale Mortgage (UWM) is a national mortgage lender with $59.2 billion in loans last quarter. The company plans to accept cryptocurrency payments later this year, CEO Mat Ishbia announced during a Q2 2021 earnings conference call. If that happens, it will be a first for the US mortgage industry.
The Michigan lender will start accepting Bitcoin (BTC) but is also exploring Ethereum (ETH) and other cryptocurrencies, Ishbia said. “We’re going to walk before we run,” he said while emphasizing UWM wanted its crypto service to be first to market.
At the moment, UWM is evaluating how to implement the conceived plan and is studying the requirements to accept cryptocurrency for mortgage payments. “We are evaluating the feasibility and requirements in order to accept cryptocurrency to satisfy mortgage payments,” Ishbia tweeted.
“We are evaluating the feasibility and requirements in order to accept cryptocurrency to satisfy mortgage payments.” – @Mishbia15
— United Wholesale Mortgage (@UWMlending) August 16, 2021
As the number of cryptocurrency users grows steadily, it would be wise to present customers with such a choice of payment method. Many companies in the US are looking for ways to give their customers access to cryptocurrency payments. For example, America's leading movie theater chain, AMC Entertainment, announced days ago that it would begin accepting Bitcoin for ticket payments and discounts. The corresponding systems for this will be developed at the end of 2021.
© 2021, Eva Fox. All rights reserved.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
