Category Archives: SALT Lending Updates
Dear SALT Community,
The year is off to a fast start – here are some of the highlights from the first full week of 2018!
SALT continues to roll out our platform at a careful pace and security remains our primary focus. As new members and loan requests continue to expand, so do the jurisdictions in which we are serving loans. Thank you for helping us create the future of lending!
Active members: 54K+ (approx.)
Funded loans: $7M+ (approx.)
Loans in work: $28M+ (approx.)
The North American Bitcoin Conference
On January 17-18 the SALT Team will be at TNABC in Miami. If you’re at the event, please stop by our booth. Tickets available here: https://btcmiami.com/
The Bitcoin, Ethereum & Blockchain Superconference
On February 16-18 come see SALT CEO, Shawn Owen, speak in Dallas at The Bitcoin, Ethereum & Blockchain Superconference. Tickets available here: https://www.
Our subreddit is growing, join the conversation! https://www.
The SALT Team
* Some restrictions apply. Subject to KYC, AML, and suitability screening.
EthLend and Salt ICO – Blockchain Lending That Will Replace Banks
Source: David Hay
Responses to David’s video:
“David, Love your videos but you missed the mark on this one. The EthLend Dapp is live and working fine you just need MetaMask installed on your browser in order for it to work.There is no risk for the LENDER because the borrower puts up ERc20 tokens as collateral for the loan and you can only borrow 67% of the tokens value. If you default then the LENDER will keep your tokens which is worth more than the loan they funded”
“Dave. Ethlend uses collateral. I am currently a user of their platform. They are already on Alpha 2.0 and require you to download Metamask to access the program and begin lending/borrowing. They also have a protocol to track credit ratings.. For each loan that is paid back, the borrower will receive credit tokens to help repay the next loans interest and will build their online credit rating. They have implemented lending via ERC20 to ETH and have recently allowed for US dollar loans. They are also currently working to implement Bitcoin lending and a host of other FIAT currencies. I hope this helped.”
“You make the Ethereum platform sound like a risk, when it’s revolutionary. I guess it’s a matter of more “governed” SALT, and arguably more understandable and user friendly, vs. peer-to-peer “less governed” and more complicated ETHLend? You make backing LEND sound like a risk because of the “what if” scenario with how the U.S. legally accepts it. That kind of contradicts your previous videos when you say you back the crypto’s based off the technology and concept. Either way, your input is greatly appreciated!”
Update received from SALT…
Dear SALT Community,
2017 has been an incredible year for SALT, and we are overwhelmingly grateful to every member of our community that has contributed to our successes. From everyone at SALT, thank you!
SALT loans are live!
We have issued initial loans to a small group of members and we expect to have originated over $10m in loans by the end of this year. Our platform will continue to be rolled out in stages to ensure quality and security as we scale to meet the extraordinary demand for loans. We are excited to extend the application process to all of our community and expect to have between $50m and $75m in active loans by the end of January 2018. We are working as quickly as possible to safely and responsibly expand the rollout to serve the needs of each and every member.
While we will be continually adding new features and issuing more loans over the coming months, we are committed to a prudent and careful growth strategy. Our first priority is, and always will be, maintaining a secure and trustworthy product through every stage of deployment.
Some important things to note:
We will be initially providing loans (US dollar denominated and backed by Bitcoin or Ethereum) first to Enterprise members, followed by Premier members, and then to Base members.
As we continue the rollout this week, you will see a loan application form in your membership dashboard. If you have not already done so, you will be required to verify your identity before you can apply for a loan.
Each member’s access to loans and the order in which members are served will be determined case-by-case based on membership tier, local jurisdiction laws, and the order in which they applied for a loan.
As a thank you to our community, we will be allowing members to repay both their principal and interest with SALT (valued at retail price) instead of US dollars. Terms and conditions are subject to change and limitations. Final terms determined at the origination of each loan.
We are excited to begin the monumental task of serving our community of members. We appreciate your patience as we work hard to meet all of the demand in a responsible and secure manner. 2018 will be another incredible year for SALT, its members, and the blockchain space as a whole. We are proud to have each and every one of you as a member of our community!
All the best,
The SALT Team
Crypto “Sloshing” and SALT Lending!! (Bix Weir)
Update received from SALT Lending…
Dear SALT Members,
It has come to our attention that there is currently a phishing scam circulating. Please avoid any website and twitter account claiming a SALT airdrop promotion. Our security team is addressing the issue.
The SALT Team
SALT Lending is excited to officially announce an international commercial banking relationship with the SBM Group, one of the largest banking and financial services institutions serving clients in Africa and Asia. The State Bank of Mauritius is a licensed commercial bank with a market capitalization of over US$3 billion.
“We are keen to explore providing banking services to this innovative company. This relationship will go a long way toward achieving our nation’s goal of becoming a hub for outstanding blockchain companies and fostering financial inclusion.” – K.C Li Kwong Wing, Chairman of the SBM Group
To foster this relationship, SALT has opened an office in the Republic of Mauritius, which boasts a global financial center. SALT looks forward to the advantages this strategic location provides in opening access to new developing markets.
“Mauritius is an ideal destination for innovative blockchain companies with its sandbox licensing framework that can provide regulatory clarity.” – James Duchenne, Managing Partner at Sutton Stone.
Continue to read at the source: The Coin Telegraph
RoadtoRoota Update: SALT Lending Update (Bix Weir)