I closed a $4M crypto asset depletion loan

"This month, we secured underwriting approval on one of the most unique loans I've ever worked on: a $4 million non-QM mortgage using crypto asset depletion to qualify. The borrower? A first-time homebuyer buying an $8 million home. But this deal didn't start with a win. One of the nation's biggest banks denied him a few months back, when he started his pre-approval.Then another lender strung him along once he went under contract, burned through 2.5 weeks of his financing contingency,"

"The borrower holds substantial crypto assets in off-exchange XRP wallets No traditional income docs No need to liquidate the crypto or move it to an exchange Income calculated via asset depletion Ownership verified via Proof of Satoshi (small test transfers to verify control of the wallets) This approach gave the underwriter visibility into his holdings without requiring liquidation. And because it's all on the blockchain, it's arguably more transparent than a standard brokerage account."

"Even from a servicing standpoint, this sets up a new model, where wallet balances can be monitored long after closing to assess financial health in real time. The crypto industry is here to stay. It's a financial tool that more and more of our borrowers are actively using, and it's refreshing to see lenders and regulators beginning to acknowledge that reality."

Underwriting approval was secured for a $4 million non-QM mortgage that qualified the borrower via crypto asset depletion rather than traditional income documentation. The borrower is a first-time homebuyer purchasing an $8 million property who previously faced denial and delays from other lenders. Qualification relied on substantial off-exchange XRP wallet holdings, income calculated through asset depletion, and ownership verified with Proof of Satoshi test transfers. The approach avoided liquidation or exchange transfers while giving underwriters blockchain visibility into holdings. Ongoing servicing could monitor wallet balances to assess financial health after closing, reflecting growing institutional acceptance of crypto.

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