Bnk To The Future eyes acquisition of crypto lender SALT

Bnk To The Future eyes acquisition of crypto lender SALT

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SALT is likely one of the first crypto lending platforms to supply dollar-denominated loans collateralized by Bitcoin and Ether.
Crypto lending platform SALT has obtained a buyout provide from a distinguished on-line funding platform — a transfer the corporate mentioned might probably improve its product choices and advance its mission of constructing digital belongings extra accessible to mainstream audiences. 
Bnk To The Future, or BF, has submitted a letter of intent to amass SALT for an undisclosed quantity, the businesses disclosed Friday. The acquisition is contingent on each events signing definitive agreements and requires regulatory approval. Robert Odell, SALT’s chief product officer, described the potential acquisition as being a unity of first-movers within the cryptocurrency market:
The settlement, ought to it undergo, wouldn’t influence current SALT clients. “We wish to guarantee you that there might be no modifications to your mortgage because of this announcement,” the corporate mentioned.
Based in 2016, SALT is likely one of the first crypto-backed lending platforms to provide debtors the flexibility to acquire U.S. dollar-denominated loans collateralized by digital belongings together with Bitcoin (BTC) or Ether (ETH). The corporate’s founding preceded the so-called DeFi Summer of 2020, which noticed dozens of decentralized finance protocols attain multi-billion-dollar valuations.
Bnk To The Future is a micro enterprise capital agency that enables traders to again early-stage fintech and crypto firms for as little as $1,000. Startups may elevate capital by way of the platform by pitching their services on to traders. Via BK, startups have reportedly raised over $1.7 billion.
Associated: VC Roundup: Lightning Network payment rail, DeFi trading platform and blockchain security firm raise millions
With the fallout from crypto contagion slowly subsiding, enterprise capital continues to again digital asset startups to the tune of billions of {dollars}. Funding offers have been down 43% in July in comparison with the earlier month, however total capital flows remained remarkably constant within the first and second quarters.
Between January and July, crypto projects raised $31.3 billion in venture funding, exceeding the $30.5 billion raised in all of 2021, in response to Cointelegraph Analysis.

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