United Wholesale Mortgage (UWM), the second-largest United States-based mortgage lender, is planning to accept cryptocurrency payments this year starting with Bitcoin (BTC).

UWM CEO Mat Ishbia revealed the crypto plans on Monday in a conference call regarding the firm's Q2 results — with the house posting $138.seven million in net profits for the quarter.

"We're excited that hopefully (this year) we can actually execute on that earlier anyone in the state," Ishbia said.

Speaking with the Detroit Free Press on Mon, Ishbia said that the movement would likely happen later this quarter, or at the start of Q4, adding, "I think we're starting with Bitcoin, but nosotros're looking at Ethereum and others."

"Nosotros're going to walk earlier nosotros run, merely at the same time, we are definitely a leader in technology and innovation and nosotros are always trying to be the best and the leader in everything we do."

"That's the plan. Obliviously in that location'due south no guarantees — we're notwithstanding working through some details," the CEO added.

UWM was the second-largest mortgage lender in 2022, originating 560,798 loans worth virtually $183 billion. Quicken Loans led the pack and originated $1.1 million loans worth $314 billion.

The use of crypto in real estate purchases has a history dating back 7 years, with BitPay helping facilitate the sale of a Lake Tahoe property that sold for $ane.half-dozen million in BTC in 2022. Notwithstanding, crypto mortgage repayments appear to be a relatively new miracle.

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In April, Matrix Mortgage Global, a Toronto-based mortgage brokerage firm, appear that it was accepting BTC, Ether (ETH), Bitcoin Greenbacks (BCH) and several stablecoins for its services via BitPay.

Cointelegraph reported on Aug. iv that Spanish political party the People's Political party introduced a neb proposal that would enable holding owners to pay mortgages with crypto and authorize the real estate sector to use its own cryptocurrency for mortgage purchases.