SALT Lending, a company that provides users with cash loans in exchange for collateral in the form of their existing crypto-currency assets, just announced another 4 US States are now eligible for their commercial loans.
Arkansas, Delaware, New Jersey, and North Carolina join 5 other States where residents can already benefit from the same loan programme.
SALT, who include Erik Voorhees (CEO of Shapeshift) on its team of advisors, allows customers with blockchain assets to obtain fiat currency liquidity in USD without having to sell off their tokens. It completed its ICO last August which met with mixed reactions due to question marks over its pricing structure and the viability of establishing a lending network.
The main focus of controversy at the time was the pricing structure for the SALT tokens. Investors who participated in the early pre-sale could buy tokens at $0.25 while the last public sale saw a price a hundred times higher at $25.00.
While this was communicated as a discounted product strategy, it had lead to concerns about the downward price pressure on the tokens once they hit the exchanges.
This appears to have been rectified by SALT who have fixed a price for the tokens on their lending platform multiple times higher than the one currently available on the exchanges, leading to arbitrage opportunities for loan applicants.
With token utility established and lending network rollout continuing, SALT, according to their website, are planning to expand the geographic reach of their product to other States and countries as soon as possible.
Consumer & Commercial SALT Loans available in: Alabama, Alaska, Colorado, Georgia, Kansas, Kentucky, New Mexico, South Carolina.
Commercial SALT Loans Only available in: Arkansas, Delaware, Mississippi, Missouri, New Hampshire, New Jersey, North Carolina, Oklahoma, Wyoming.