One of the first crypto lending platforms was just acquired.
Crypto lending platform SALT has received a buyout offer from a prominent online investment platform — a move the company said could potentially enhance its product offerings and advance its mission of making digital assets more accessible to mainstream audiences.
Bnk To The Future, or BF, has submitted a letter of intent to acquire SALT for an undisclosed amount, the companiesFriday. The acquisition is contingent on both parties signing definitive agreements and requires regulatory approval. Robert Odell, SALT’s chief product officer, described the potential acquisition as being a unity of first-movers in the cryptocurrency market:
“This potential union will combine SALT, the world's first crypto lending platform, with BF, the world’s first Bitcoin and crypto securities business.” The agreement, should it go through, would not impact existing SALT customers. “We want to assure you that there will be no changes to your loan as a result of this announcement,” the company said.
Founded in 2016, SALT is one of the first crypto-backed lending platforms to give borrowers the ability to obtain U.S. dollar-denominated loans collateralized by digital assets including Bitcoin (
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