UWM Holdings completes crypto payment pilot program

crypto payment

TL;DR Breakdown

• UWM accepted crypto payments in Stablecoins and other cryptos.
• For now, the mortgage company is limited to using Bitcoin and Ethereum due to regulations.

After a strong negotiation, the mortgage lender UWM has announced that they can accept crypto payments on their service. United Wholesale Mortgage plans to join the new technologies where Bitcoin and other decentralized currencies are known to many people.

The mortgage company reveals that payments in cryptos will go through a test in which users can participate. Following these announcements, UWM would enter the list of the main US mortgage companies that have accepted Bitcoin as payment.

Crypto payments lead to UWM

The mortgage agency UWM has had a long journey with cryptocurrencies, considering that since September, it has experimented with them. Last month the company completed its first cryptocurrency payment after being silent for several months on the new financial market.

In October, UWM received five cryptocurrency transactions, which attracted the attention of customers. However, the company had not yet officially ruled on crypto payments until today.

The mortgage agency UWM announced that they have mobilized with his team to accept crypto payments. However, these virtual payments will be limited due to the strong regulations affecting the main tokens. Following this statement, the agency said it would only accept Bitcoin, Ethereum, and Dogecoin, focusing on payments with Stablecoins and other tokens not affected by the regulations.

The UMW CEO clarifies that he is eager to test these cryptocurrency payments within his mortgage system. The agent thinks that after these innovations, the company is updating towards the new financial market.

Crypto payment wave rises in North America

UMW is on an endless list of American companies that have thought big in accepting cryptocurrencies as payment methods. The list includes Home Depot, Overstock, Microsoft, AT&T, and the auto company Tesla. However, cryptocurrency payments adoptions have been limited by regulations imposed by the SEC and other national agencies.

Several of these companies agree by saying that crypto payments offer many advantages for their fast, secure transactions and with the option of a passive investment. Under this new transactions wave in crypto payments, the Bitcoin, Ether, and DOGE price has taken off, considering the main tokens. Bitcoin, for example, is trading above $57,000 with a rise of 6.52 percent of its value in the last seven days.

UMW starts payments in cryptocurrencies today so that several users will use them without problems. The mortgage agency could lift its limits on crypto payments in the coming months by accepting the token most traded by enthusiasts, Bitcoin. UMW promises security in these transactions, although it does not specify which wallet it will process them.

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