United Wholesale Mortgage CEO Mat Ishiba this week said the major lending company hopes to soon begin accepting cryptocurrency payments from consumers, something the executive said would be a national first.
Ishiba revealed the company’s intent in a quarterly earnings call with investors on Monday. “We’ve evaluated the feasibility, and we’re looking forward to being the first mortgage company in America to accept cryptocurrency to satisfy mortgage payments,” he said.
“That’s something that we’ve been working on,” he added, “and we’re excited that hopefully, in Q3, we can actually execute on that before anyone in the country because we are a leader in technology and innovation.”
Ishiba in the call promised “some game-changing technology” the company plans to reveal in the third quarter, though he did not go into specifics.
Cryptocurrency for mortgage payments is still a relatively unexplored means of exchange, though some lending companies have begun exploring the possibilities that currencies like BitCoin offer. Major Canadian lender Matrix Mortgage, for instance, earlier this year announced it would begin accepting BitCoin for certain goods and services.