SALT Lending and Mauritius State Bank Partner on Blockchain Backed Cash Loans
Published 1 year ago by Michael Kimani
Blockchain lender SALT has partnered with Mauritius' second largest bank to enable cash lending for digital assets. The startup connects lenders and borrowers by leveraging blockchain assets as collateral for credit creation.
Chairman of the SBM Group, K.C. Li Kwong Wing, said: SALT's (Secured Automated Lending Technology) product is geared towards the unbanked that may not have a financial credit history. With savings in digital assets, Salt lets them borrow fiat denominated loans using their assets as collateral.
Salt also caters to cryptocurrency investors with significant holdings who may opt for the service to avoid liquidating their assets. With the Island's world-class banking infrastructure and a partner with $5.2 billion in assets, SALT's operations have an ideal match to explore their business model.
Yablon said of the partnership: As one of many territories positioning themselves for the cryptocurrency industry, Mauritius has implemented a sandbox licensing regime for blockchain startups. SALT and SBM's partnership is a step to building an attractive ecosystem for distributed ledger technology opportunities on the island.Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full