Secured Automated Lending Technology [SALT], a platform which offers blockchain-backed loans, will now be accepting Litecoin [LTC] as collateral part of their endeavor into the growing crypto-lending ecosystem. The announcement made by the firm on their blog, along with a set of new features, including the removal of the maximum cap on loan amounts, and updated loan solutions to cater to the emergent market.
With the addition, apart from Litecoin, patrons can now procure cash loans on the platform if they are backed by Bitcoin [BTC] and Ethereum [ETH].
SALT has made a name for itself in the niche market for being the top liquidity provider for large-scale cryptocurrency investors, including entities, firms working in the cryptomarket, and miners. Though it’s primary target is to offer loan solutions to large firms, the organization has equally invested in individual customers. This makes it a go-to solution provider for a wide spectrum of clients. With enticing features like a live portfolio valuation, flexible loan terms, 24×7 support, and exclusive custody solution, it is arguably the largest blockchain-based lending platform.
SALT now offers loans in USD with an interest rate of 5.99% for loans up to $75,000, and an interest rate of 11.99% for loans below $25MM. For procuring a loan amount above $25MM, the firm has enabled tailored options. But their interest rates and loan amounts will differ by jurisdiction.
The firm’s token, SALT was first traded on July 28, 2017, and has seen a rise in value recently. SALT’s value increased by 9.25% against USD in the last week and it continues to gradually rise. At the time of writing, it was trading at $0.75, with a market cap of $53,190,028.
SALT currently enjoys a 70,000-strong user base and operates across the globe with a commitment to reach every corner with its legal and licensed lending solutions. The firm aims to open offices in Switzerland, Hong Kong, the United Arab Emirates (UAE), Brazil, Puerto Rico, Bermuda, and Vietnam this year.