SALT is a financial technology company specializing in crypto-backed lending solutions. Founded in 2016 and headquartered in Denver, Colorado, SALT enables individual investors and businesses to leverage their cryptocurrency holdings to secure cash loans. By collateralizing assets such as Bitcoin, Ether, and Litecoin, users can obtain loans in U.S. dollars or stablecoins without the need to liquidate their crypto investments. This approach allows clients to access liquidity while maintaining potential upside in their digital assets.
In addition to its core lending services, SALT has expanded its offerings through strategic partnerships. In April 2022, the company launched its Embedded Crypto Lending Service, collaborating with Cion Digital to integrate crypto financing solutions into over 5,000 auto dealerships across the United States. This initiative allows car buyers to use their cryptocurrency as collateral for loans at the point of sale, facilitating vehicle purchases without selling their digital assets. SALT's platform is designed to be asset-agnostic and adaptable, aiming to meet the evolving needs of the blockchain asset class.
In February 2023, SALT raised $64.4 million in a Series A funding round to resume operations following the collapse of the FTX exchange, which had impacted its business. The company continues to focus on providing secure and efficient lending solutions within the crypto ecosystem, emphasizing the preservation and growth of clients' long-term wealth through innovative financial products.
