SALT, a U.S.-based Blockchain-Backed Loans provider for cryptocurrency holders, announced on Wednesday it has begun offering Blockchain-Backed Loans in Washington, D.C., Oklahoma, Arkansas, and Montana. The company reported that with this new expansion, it is now able to lend to 86% of the U.S.
As previously reported, SALT was founded in 2016 and launched its lending platform in 2017 to offer membership-based borrowing allowing borrowers to leverage their cryptocurrencies to secure cash loans, while simultaneously providing an opportunity for financial institutions and accredited investors indirect involvement in this new asset class, ingeniously linking cryptocurrency with traditional lending.
“SALT works to solve a major problem of blockchain assets – illiquidity. By opening up this entirely new form of loans, SALT brings more liquidity to the market. The platform is open to all tiers of borrowers looking to take advantage of this groundbreaking service further bringing together the worlds of crypto and traditional finance.”
SALT reported that as it continues to grow, it remains focused on continuing to expand its lendable jurisdictions not only within the U.S., but throughout the entire world. Speaking about the expansion, Bill Sinclair, CTO and Interim President and CEO of SALT, went on to add:
“We recently announced a significant increase in our international jurisdictions and have continued to build upon that progress over the past couple of months. 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.”
