Better Partners with Framework Ventures on $500 Million Stablecoin to Advance Mortgage Tokenization

PANews reported on February 24th, citing Cointelegraph, that cryptocurrency venture capital firm Framework Ventures has partnered with mortgage lending service Better to provide approximately $500 million in credit support to the stablecoin ecosystem of DeFi protocol Sky (formerly MakerDAO), and to issue tokens pegged to mortgage loans to generate yield. Framework has also agreed to acquire a 10% stake in Better for approximately $45 million. The initial mortgage tokens will be available only to accredited investors; Better plans to later launch a product called "Home Token" for retail investors, but the timeline has not yet been disclosed. Better claims that on-chain financing reduces intermediary layers and financing costs, thereby providing consumers with lower-interest mortgage loans.