Salt is a membership-based lending and borrowing network which allows you to use your blockchain assets (Bitcoin, Ethereum, etc..)as collateral to acquire fiat currency cash loans. This allows you to leverage the value of your digital assets, offset tax events, avoid exchange fees and maintain your cryptocurrency holdings.

Let’s say, for instance, that you own some Bitcoin and you need some cash for the down payment for a house or to start a business. Salt allows you to put up your Bitcoin as collateral in order to secure a loan which you can use as you please. For more information on the lending structure, see the Salt whitepaper.

Salt was originally founded in Denver, USA in 2016. They had a successful ICO in August 2017, raising over US$55 million dollars. Based on the amount raised, it was one of the most successful ICOs of all time.

The team is led by CEO Shawn Owen, a self-proclaimed serial entrepreneur and early Bitcoin advocate. Assisting Shawn is Josef Schaible, who has over 22 years of fintech and entrepreneurial experience. Schaible is the co-founder of NexTrad, Matchbookfx, Anderen Financial and AtlasBanc Panama.

For more information on the Salt team, how the platform will work and some of their challenges, see “What is Salt”.

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