'hypothecate' originates from Latin, specifically the word 'hypothecatus,' where 'hypo-' meant 'under' and 'theca' meant 'case or box.'

'hypothecatus' transformed into the French word 'hypothéquer,' and eventually became the modern English word 'hypothecate' through Middle English.

Initially, it meant 'to place under a pledge,' but over time it evolved into its current meaning of 'to pledge property as security.'