BlockBeats News, February 24 — Canadian venture capital firm Framework Ventures has reached an agreement to purchase approximately 10% of the publicly listed mortgage lender Better.com for about $45 million. This move comes as Better.com plans to enter the asset tokenization space and intends to issue token products backed by $500 million in mortgage and other loan assets.
Sources familiar with the matter revealed that this retail-oriented token may be named “Home Token.” The company stated that the initial tokens will be available only to accredited investors, with plans to gradually expand to a broader user base in the future. Vishal Garg, founder and CEO of Better.com, said that tokenization can reduce intermediary steps, thereby lowering financing costs and providing consumers with lower-interest mortgage products.
It is reported that Better.com is working with DeFi ecosystem Sky to advance the tokenization of mortgage assets. Sky uses real-world assets (RWA) to support stablecoins, with the current ecosystem capital approximately $18 billion. Framework Ventures is also one of Sky’s key supporters.
Better.com had planned to go public in 2021 with a valuation of $7.7 billion, but its actual IPO in 2023 saw its stock price plummet over 90% on the first day. The company’s current market value is about $450 million.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Michael Saylor Plans to Permanently Burn 17,000 Bitcoin
Michael Saylor plans to permanently destroy access to over 17,000 Bitcoin, emphasizing alignment with Bitcoin's core principles of sovereignty and property rights. Meanwhile, his company, Strategy, raised its STRC dividend rate to 11.50%, potentially funding more Bitcoin acquisitions.
CryptoFrontNews37m ago
Opinion: S1 snapshot completed, and S2 has been initiated
BlockBeats News, March 1 — The BSC Ecosystem Forecast Platform Opinion announced that "The snapshot for S1 has been completed, and S2 is now officially launched.
From now until March 15 at 15:59 (UTC), transaction fees are halved for a two-week period. The PTS for the last two weeks (February 15 to 28) will be calculated at double, and will be included in both S1 and S2."
GateNews3h ago
Weekly Preview | Gemini to Cease Operations in the UK; Federal Reserve Releases Economic Beige Book
News Preview:
Bitway (BTW) will be launched on March 2nd, supporting trading on Binance Alpha;
MANTRA Chain plans to upgrade to v7.0.0 software on March 3rd;
Gemini will cease operations in the UK, with customer accounts only able to withdraw starting March 5th;
HyperLiquid co-founder: 173,000 HYPE tokens will be unstaked and distributed to team members on March 6th;
RedStone (RED) will unlock approximately 40.85 million tokens at midnight Beijing time on March 7th, accounting for 16.13% of the current circulating supply, valued at about $6.2 million.
March 2nd
Macroeconomics:
At 22:45 on March 2nd, the US will release the February S&P Global Manufacturing PMI
PANews5h ago
MANTRA Final Reminder for Token Upgrade: Code update and 1:4 split will occur on March 3rd
MANTRA issues a token upgrade reminder on the X platform. The upgrade will take place on March 3rd, including a token rebranding and a 1:4 token split. Users holding OM do not need to take any action; their wallet balances will be automatically updated. Users still on the Cosmos ecosystem chain should transfer OM to MANTRA Chain as soon as possible.
GateNews6h ago
Data: Tokens such as RED, HYPE, and ENA will experience large unlocks next week, with RED unlocking worth approximately $6.2 million.
Token Unlocks data shows that tokens such as RED, HYPE, ENA will be unlocked next week, with total unlock amounts and values as follows: RED approximately 40.85 million tokens ($6.2 million), HYPE approximately 173,000 tokens ($5.4 million), ENA approximately 40.63 million tokens ($4.3 million), and OP approximately 19.5 million tokens ($2.4 million).
GateNews6h ago
