PAYMENTS
MQube has tokenised £ 1.3bn( US $ 1.73bn) of mortgage debt on the blockchain through its lending division MPowered.
The UK-based fintech says the transaction marks the first time a European mortgage lender has moved residential mortgage assets onto an Ethereum Virtual Machine compatible chain.
Lear adds:“ Our architecture will allow institutions to collaborate on-chain while preserving compliance boundaries and proprietary logic, unlocking a new level of product flexibility. It has the potential to let lenders offer dynamic product terms, automate rate switches, and embed new servicing logic over time – without relying on static legacy systems.”
The company operates MPowered, which provides mortgages under the One Day Mortgage brand.
The tokenisation converts mortgage debt into digital tokens recorded on a distributed ledger. While equity, bonds and real estate have been tokenised in previous transactions, this represents the first European deployment of the technology for mortgage debt.
The move follows growing interest in blockchain applications within financial services, where institutions have been exploring uses for distributed ledger technology in asset management and trading.
“We’ re building infrastructure with the potential to completely rewire the mortgage ecosystem”
Mike Lear CIO, MQube
114 December 2025