SALT, a crypto-collateralized online lending platform, announced on Wednesday it has formed a new partnership with NODE40, a blockchain masternode hosting and monitoring provider. SALT reported that through the collaboration it will provide expanded loan options for DASH masternode owners in tandem with the Dash community’s first masternode hosting service.
“A Dash masternode serves to expedite transactions and scale the network by relaying them over a second-tier network. While Bitcoin’s second layer is an off-chain solution to scale, Dash runs an on-chain second layer using masternode operators who are incentivized by the network like miners in Bitcoin.”
Speaking about the partnership, Rob Odell, VP of Product and Marketing at SALT, stated:
“Our development team has made a technological breakthrough and has advanced our mission by unlocking value and liquidity in cryptocurrency assets through collateralizing the Dash connected to masternodes. Dash has quickly become our second most popular collateral option behind Bitcoin and the community has reacted positively with a high volume of loan applications. We’re excited to work with NODE40 to increase our support for the Dash community and provide innovative solutions and services for masternode holders to get the most out of their assets.”
Perry Woodin, Co-Founder and CEO of NODE40 and a Dash Trust Protector, went on to add:
“Our companies’ shared dedication to customer service naturally brought us together when a mutual client wanted to take out a fiat loan using their masternode’s Dash. What attracted us to SALT was the caution with which things are done; they have a solid reputation of doing things by the books. Having been a part of Dash from early on, we tend to do things conservatively, and that was important to us when evaluating how a loan is backed and if our customers would be protected in the case of an audit. With SALT we share the vision of being cutting edge while playing by the rules not only to protect ourselves, but to bring legitimacy to the industry.”