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United Wholesale Mortgage will start accepting Bitcoin soon
United Wholesale Mortgage has announced its intentions to start accepting Bitcoin payments from its clients. The US-based mortgage lender said it wants to be the first in the United States mortgage industry to start accepting Bitcoin and other cryptocurrencies.CEO Mat Ishbia revealed this during an earnings call with Wall Street analysts earlier this week. He said, "We're excited that hopefully (this year) we can actually execute on that before anyone in the country."
The CEO said the company intends to start accepting one or more cryptocurrencies in the fourth quarter of the year. "I think we're starting with Bitcoin, but we're looking at Ethereum and others. We're going to walk before we run, but at the same time, we are definitely a leader in technology and innovation, and we are always trying to be the best and the leader in everything we do."
Ishbia said United Wholesale Mortgage is still working on the details, but they are certain of accepting Bitcoin from their clients before the end of the year.
Bitcoin's adoption in the US has been rapid
The adoption of Bitcoin and other cryptocurrencies has been rapid amongst financial institutions in the US and other parts of the world. However, there is still a long way to go to achieve massive adoption.Cryptocurrencies are yet to gain leeway in the mortgage sector, but news such as those from United Wholesale Mortgage could help boost the adoption rate.
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