back Back

SALT launches crypto lending-as-a-service

By Edlyn Cardoza

April 21, 2022

  • CarNow
  • Cion Digital
  • Crypto Loans
Share

SALT, Cion Digital, Embedded Crypto Lending Service, CarNow, USASALT and Cion Digital today announced a strategic partnership to bring SALT’s crypto-lending solutions to 5,000+ auto dealerships in the US. The announcement marks the launch of SALT’s Embedded Crypto Lending Service, which will enable financial service providers and FinTech platforms to deploy crypto financing solutions rapidly.

Launched in 2016, SALT was the first platform to offer crypto-backed loans and has since been focused on optimising its lending technology and servicing operations. Over the past few years, the Company has built full-stack loan management and risk platform that manages complex crypto loans at scale. With the launch of embedded crypto lending, SALT brings this technology to other platforms, helping them further their mission to offer new and novel products to their customers.

“We’ve been building our direct-to-consumer lending business with the embedded model in mind from the start,” said SALT’s CEO Justin English. “From crypto native wallets and exchanges to large neobanks and traditional financial institutions, market participants are increasingly intent on digitizing their platforms to accommodate the ever-growing demand for crypto, and we’re excited to help facilitate the transformation.”

By partnering with Cion Digital, which recently announced a collaboration with CarNow and their network of nearly 5,000 dealers, car buyers will be able to use their crypto as collateral for loans at point-of-sale at highly competitive rates. Car buyers will also be able to use crypto to make a down payment or pay for a vehicle in full.

“Cion Digital is excited to partner with SALT to offer our extensive network of dealers the ability to turn on this exciting new point-of-sale financing option, which is often a lower cost loan than traditional financing options,” said Fred Brothers, President and Co-founder of Cion Digital. “With almost half of Millennials now owning crypto, we are working together to increase dealer capabilities for this fast-growing market of buyers who want more financing and payment options at the dealership.”

With Cion Digital becoming its first official partner, SALT is already experiencing increased demand for its Embedded Crypto Lending solution and expects to announce additional partners this year.

Previous Article

April 21, 2022

BHIM UPI goes live at NEOPAY terminals in UAE

Read More
Next Article

April 21, 2022

3 challenges faced by banks in modernising their Core Banking systems

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

CarNow

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 23, 2024

Octopus Energy to offer BNPL payments with Zopa Bank

Read More

May 23, 2024

4 Wearable PayTech firms enabling cashless payments in Europe

Read More

May 23, 2024

Vitesse secures $93m in Series C Funding to fuel US expansion

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023