SALT Lending has announced it will now be accepting Litecoin alongside Bitcoin and Ethereum as collateral for it blockchain backed loans platform. As such, users can now hedge their Litecoin and receive Fiat instead of previously having to directly liquidate their assets/investment.
“SALT distinguishes itself as the premiere liquidity provider for large crypto investors including individuals, mining operations, exchanges and other institutions in the blockchain ecosystem.”
SALT’s loans vary from between $5,000 to $25,000,000 (although larger loans are available upon inquiring) and is accessible in over 50 jurisdictions. Along with the addition of Litecoin, SALT have also announced it has lowered its rates to 5.99% for loans below $75,000 and as low as 11.99% for loans up to $25,000,000.
SALT offer live portfolio valuation of collateralized assets and around-the-clock global support with flexible loan terms from 3 to 36 months and according to their site, loans are not subject to prepayment fees or penalties and no credit checks when signing up to use the platform
Lending is based around the SALT token ($SALT), an Etherum based ERC-20 token that launched in 2017. Anyone looking to use their Litecoin as collateral for a loan will need to own some SALT in order to have membership on the platform.