Potential Acquisition on the Horizon

In a surprising twist in the crypto lending world, SALT has caught the attention of Bnk To The Future (BF), a prominent online investment platform. The letter of intent submitted by BF outlines a possible acquisition that could bolster SALT’s product portfolio and make digital assets even more accessible to everyday users. However, hold on to your digital wallets; this deal isn’t a done deal yet.

The Players Involved

Robert Odell, the CPO of SALT, emphasized that merging these two trailblazers could lead to significant advancements in the crypto lending landscape. “This potential union will combine SALT, the world’s first crypto lending platform, with BF, the world’s first Bitcoin and crypto securities business,” said Odell. So basically, two pioneers are considering teaming up to shake things up in the fintech realm. Game on!

No Immediate Changes for Customers

If you’re a SALT customer, breathe easy. The company has reassured its clients that, as of now, their loans will not be impacted by the acquisition talks. “We want to assure you that there will be no changes to your loan as a result of this announcement,” the company communicated, ensuring a smooth sailing experience for existing borrowers.

A Look Back at SALT’s Journey

Founded in 2016, SALT made its debut before the DeFi craze that unfolded in 2020. It carved a niche for itself by allowing borrowers to access U.S. dollar loans using Bitcoin (BTC) or Ether (ETH) as collateral. Talk about being ahead of the curve! While many platforms emerged in the wake of DeFi, SALT remains one of the original players navigating the crypto-backed lending waters.

The Rise of Bnk To The Future

On the other hand, Bnk To The Future has established itself as a micro venture capital darling, enabling investors to dive into the fintech and crypto startup pool with as little as $1,000. The platform has successfully enabled startups to raise more than $1.7 billion. That’s a lot of clinking coins!

The Bigger Picture: Crypto Funding Trends

Despite recent challenges in the crypto space, venture capital interest in digital assets remains robust. While July saw a 43% dip in deals compared to the previous month, the overall health of funding in the first half of the year has been surprisingly resilient. After all, crypto projects managed to attract a staggering $31.3 billion in venture funding from January to July, surging past the total from 2021. So, while the road may be bumpy, the destination is still shiny and lucrative.