<p>Loans platform Figure has opened its waiting list for crypto-backed mortgages in the US, in a move that would let borrowers put up bitcoin (BTC) or ethereum (ETH) as collateral.</p> <p>Borrowers will be able to take out mortgages worth up to $20 million for a 30-year loan, according to a <a href="https://www.linkedin.com/posts/mikecagney_crypto-btc-eth-activity-6912213409501515778-9G1v">LinkedIn post</a> by the company's co-founder, Mike Cagney.</p> <p>The loan instrument, set to launch in April, will allow payments with the crypto collateral. Meanwhile, Figure says it won't rehypothecate the assets. </p> <p>Figure follows several other companies into the crypto-backed mortgage market, in a move that speaks to the growing interest in bringing digital assets to the housing market. </p> <p><a href="https://www.theblockcrypto.com/post/127592/crypto-ledn-series-b-funding-bitcoin-backed-mortgage-product">In December,</a> Ledn has also announced a new bitcoin-backed mortgage product, which will allow users to borrow to buy a home with their bitcoin holdings as collateral. When it announced the product, Ledn said it was targeting over $100 million in bitcoin-backed mortgage originations by the end of the first quarter of 2022.</p> <p><a href="https://www.prnewswire.com/news-releases/milo-launches-first-us-crypto-mortgage-301462342.html">Earlier this year,</a> crypto credit company Milo also announced a crypto-backed mortgage product.</p>