2018-10-5 16:19 |
SALT, the large Blockchain-Backed Loans provider, announced a major update on its platform. Litecoin has now been added to its list of supported cryptocurrencies. Not only this, but the company has also created a better business offering for customers. The interest rates on the platform have now become more competitive, while the maximum cap on loan amounts has been removed. These new updates will make SALT a more lucrative option for people seeking loans against their crypto holdings.
Litecoin Support and MoreLitecoin has become the third cryptocurrency against which consumers can seek loans on the SALT platform. Before this, loans were provided against Bitcoin and Ethereum holdings only. Apart from this, the platform is now offering cash loans (in US dollars) with low-interest rates.
A 5.99-percent interest rate will be applicable for loans valued below $75,000, while an 11.99-percent rate will be applicable for loans up to $25 million. Larger investors who seek loans in excess of $25 million can make use of flexible rates. The loan amount and interest rates will vary according to the jurisdiction.
The new interest rates can help in expanding the company’s user base globally. It currently has 70,000 users, and with better interest rates and the addition of newly licensed lending jurisdictions, this number is set to increase. The Denver, Colorado, based company is now present in 80 percent of the United States and 10 international territories.
Is SALT Moving to Consumer-Level Business?Though SALT has improved its consumer-level offerings, it is known as one of the premiere liquidity providers for larger investors, ranging from deep-pocketed individual investors to exchanges, mining operations, and other institutional investors.
The company’s primary goal is to serve large clients as it provides advanced solutions like round-the-clock support to its global clientele, live portfolio valuation, flexible loan terms, and proprietary custody solutions. The recent steps by the company suggest that it doesn’t want to leave consumer-level business behind. However, its primary goal is still to serve its bigger clients. The steps could be seen as a diversification plan by the company, which promotes crypto loans to retail investors as well.
New SALT Update Adds Litecoin Support, Adds New Interest Rates was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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