DENVER, Aug. 8, 2018 /PRNewswire/ -- SALT Lending, the world's premiere provider of cryptocurrency collateralized Blockchain-Backed Loans™, today announces that it has begun to operate in 20 more states in the union, increasing its total reach to 35.
More than 16.3 million people in the U.S. hold cryptocurrency. SALT Lending's innovative "Hold Your Assets, Spend Your Cash" model provides access to liquidity for crypto currency holders looking to fully realize the power of a new asset class without reducing their holdings.
SALT Lending's new U.S. lending reach now includes Connecticut, Washington D.C. Florida, Illinois, Kansas, New Hampshire, North Carolina, Ohio, Oklahoma, Alabama, Idaho, Indiana, Iowa, Louisiana, Maine, Maryland, Michigan, Nebraska, Rhode Island, Tennessee, Texas, Vermont, Virginia, West Virginia, and Wisconsin.
SALT Lending continues to pursue compliance in all remaining U.S. states to create greater access for borrowers. "This news effectively gives our platform a 60 percent increase in lendable areas," stated Bill Sinclair, CTO and interim president and CEO of SALT Lending. "It is our goal to operate in all 50 states by the end of 2019, barring any regulatory challenges."
In conjunction with this expansion, SALT Lending introduces a reengineered platform offering users a broader, faster and more efficient member experience consistent with traditional banking entities. Interested media parties have been granted live webinars to see the nuances of the technology. SALT's newly enhanced platform includes a revised dashboard, intuitive tools for a seamless borrowing experience, faster processing of transaction requests, near real-time (NRT) collateral, loan status monitoring, and a Proof of Access program.
With the launch of SALT Lending's Proof of Access (POA) program, where available, members can secure more favorable borrowing interest rates as low as 12 percent by staking higher quantities of SALT Membership Units on the platform. The value of SALT will change from the initial promotional price to an industry norm in line with an aggregate market value, allowing current members the option to extend terms, lower monthly payments and/or prepay in USD.
"With our operating advancements and technological enhancements, we have made yet another sizeable leap to grant more banked and unbanked people access to leverage their blockchain assets to accommodate the need for traditional fiat-based transactional living," Sinclair continued.
For more on SALT Lending's expansion and redesign, see the August 2nd blog post, https://blog.saltlending.com/the-upgraded-salt-borrower-experience-is-here-53991a2d6d3
About SALT Lending
SALT Lending is a membership-based lending and borrowing network that allows users to leverage their blockchain assets to secure cash loans. The company's Secured Automated Lending Technology is a protocol- and asset-agnostic architecture designed to adapt to the constantly-growing class of blockchain assets. Since launching in June 2017, SALT Lending has issued over $50 million in asset-backed loans to borrowers. For more information on SALT Lending, visit SaltLending.com.
SOURCE SALT Lending Holdings, Inc.