Is Coinbase (COIN) Quietly Redefining Its Business Model Through Fannie Mae–Eligible Crypto Mortgages?

Simply Wall St.06-10 17:25

In early June 2026, Better Home & Finance Holding Company and Coinbase funded the first Fannie Mae–backed U.S. mortgage secured by Bitcoin and USDC collateral, with plans to extend this crypto–backed ...

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This move marks a meaningful step in treating tokenized assets as usable wealth within traditional housing finance, potentially broadening how borrowers’ balance sheets are evaluated for homeownership. Next, we’ll examine how enabling Fannie Mae–eligible, crypto–backed mortgages could influence Coinbase’s investment narrative and evolving business mix. We've uncovered the 9 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them.AdvertisementCoinbase Global Investment Narrative RecapTo own Coinbase, you need to believe crypto infrastructure will keep gaining relevance and that the company can shift more of its business toward higher margin services while managing volatility and security risks. The Fannie Mae eligible, crypto backed mortgage is directionally supportive of that thesis, but it does not change the near term focus on stabilizing trading volumes and addressing cybersecurity and compliance costs after the recent data theft expense. Among recent developments, Coinbase’s national trust bank charter stands out alongside the Better Home & Finance partnership, because both lean on its regulated custody and compliance stack. That combination connects institutional grade oversight with new token backed use cases like mortgages, which ties directly into the core catalyst of growing revenue from tokenization, custody, and subscriptions rather than relying mainly on spot trading fees. Yet beneath this growth story, investors still need to weigh the risk that rising compliance costs could outpace Coinbase’s push into higher margin services and... Read the full narrative on Coinbase Global (it's free!)Coinbase Global's narrative projects $8.5 billion revenue and $2.1 billion earnings by 2028. This implies 8.3% yearly revenue growth but a $0.8 billion earnings decline from $2.9 billion today.Uncover how Coinbase Global's forecasts yield a $383.46 fair value, a 147% upside to its current price.Exploring Other PerspectivesCOIN 1-Year Stock Price Chart Compared with the consensus story, the most bearish analysts were assuming revenue could shrink about 3.9% a year and earnings fall toward roughly US$535 million, so you should recognize how pessimistic this view is and consider that both it and the token backed mortgage news could shift as new information emerges.Explore 14 other fair value estimates on Coinbase Global - why the stock might be worth over 2x more than the current price!Form Your Own VerdictDon't just follow the ticker - dig into the data and build a conviction that's truly your own.A great starting point for your Coinbase Global research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision.Our free Coinbase Global research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Coinbase Global's overall financial health at a glance.Interested In Other Possibilities?The market won't wait. These fast-moving stocks are hot now. Grab the list before they run:The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 14 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement.Explore 30 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research.Capitalize on the AI infrastructure supercycle with our selection of the 48 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow.  This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: AI Stock Screener & AlertsOur new AI Stock Screener scans the market every day to uncover opportunities.• Dividend Powerhouses (3%+ Yield)• Undervalued Small Caps with Insider Buying• High growth Tech and AI CompaniesOr build your own from over 50 metrics.Explore Now for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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