Funding
$188.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Individuals and businesses holding crypto assets often need access to fiat currency without selling their crypto holdings, potentially incurring capital gains taxes or missing out on future appreciation. Traditional loan systems rely on credit scores, which may not accurately reflect the financial standing of crypto asset holders.
Solution
SALT provides a platform for individuals and businesses to obtain asset-backed loans, using their crypto assets as collateral. This allows users to access liquidity in the form of USD or stablecoins while retaining ownership of their crypto holdings. Loan amounts are determined by the value of the crypto collateral, and the platform offers various loan options to fit different financial strategies. The platform utilizes institutional-grade custody solutions and maintains cyber insurance to secure user assets.
Target Audience
The primary target audience includes individual crypto investors and businesses seeking to leverage their crypto assets for liquidity without selling their holdings.
Features
- Crypto-backed loans using BTC, ETH, LTC, BCH, USDC, TUSD, and PAX as collateral
- Loan amounts starting from $5,000 with borrowing up to 70% loan-to-value (LTV)
- Fixed interest rates ranging from 8.95% to 14.45% APR
- 12-month loan terms with no prepayment fees
- Mobile application for loan application, account management, and monitoring LTV ratio
- Integration with BitGo and Fireblocks for secure custody of collateral assets
- Cyber insurance coverage for protection against cyber-related incidents and theft of crypto assets
- Custody agnostic approach to distribute risk and enhance security