Click For Photo: https://techcrunch.com/wp-content/uploads/2018/02/gettyimages-892807662.jpg?w=599Click For Photo: https://techcrunch.com/wp-content/uploads/2018/02/gettyimages-892807662.jpg
SALT Lending has issued $40 million in asset-backed loans that are aimed at investors in cryptocurrencies to give them a bit of liquidity without the need to sell off assets.
The company rolled out its first loans late in 2017 after two years spent developing the technology to make the loans work. SALT Lending relies on a multi-signature wallet that allows counter-parties in a transaction to both access the account — and a software service that marks to market the value of the cryptocurrencies held as assets.
Blake - Cohen - Estate - Executive - Family
Founded by Blake Cohen, a former real estate executive for his family’s own business, SALT Lending is Cohen’s first foray into cryptocurrency entrepreneurship.
Cohen says the idea for the service was a no-brainer. “Cryptocurrencies and blockchain assets make the ideal collateral,” says Cohen. In typical asset-backed lending the assets need to be located, seized and liquidated for lenders to be made whole. With cryptocurrencies all of those problems go away, says Cohen.
Capital - SALT - Company
Most of the capital that SALT is lending has come from the company’s own...
Wake Up To Breaking News!