Crypto-Backed Lending Platform SALT Expands US Reach To 86%

Blockchain, News | December 6, 2018 By:

Crypto-backed loan provider SALT has expanded its services in Washington, DC, Oklahoma, Arkansas, and Montana.

Founded in 2016, SALT enables cryptocurrency holders to secure cash loans by collateralizing their blockchain assets. Simultaneously, its services provide opportunity for exposure to this evolving digital asset class. The company’s “Hold Your Assets, Spend Your Cash” model provides access to liquidity for cryptocurrency holders looking to fully realize the power of a new asset class without reducing their holdings.

With its latest expansion, the company is now able to lend to 86 percent of the United States. In addition to the four new US states, SALT’s blockchain-backed loans are also available in Connecticut, Florida, Illinois, Kansas, New Hampshire, North Carolina, Ohio, Alabama, Idaho, Indiana, Iowa, Louisiana, Maine, Maryland, Michigan, Nebraska, Rhode Island, Tennessee, Texas, Vermont, Virginia, West Virginia and Wisconsin.

The company said that as it continues to grow, it remains focused on continuing to expand its lendable jurisdictions not only within the US, but throughout the entire world.

“We recently announced a significant increase in our international jurisdictions and have continued to build upon that progress over the past couple of months,” said Bill Sinclair, CTO and Interim President and CEO of SALT. “With the addition of our nation’s capital and three other U.S. jurisdictions, we’re that much closer to achieving our goal of being able to provide loans to the entire country.”

Earlier this year, SALT launched a Proof of Access (POA) program that gives its members an upgraded experience by offering platform staking opportunities, providing new flexible loan advantages, and the chance to participate in its dynamic pricing valuation.