BnkToTheFuture was founded in Denver and is an online platform for investing. announced Salt Lending, a provider of crypto lending, is being purchased by the company for an undisclosed amount.
BnkToTheFuture was launched in 2011 and continues to serve as an online platform for qualified investors that allows them to invest in financial innovation, including funds, fintech firms, and other alternative financial products.
BnkToTheFuture revealed Friday that it has signed a letter expressing its intent to acquire Salt Lending. This is subject to regulatory approval and the signing of definitive agreements.
Salt Lending was established in 2016 and offers crypto-backed loans. This allows individuals and businesses to secure their crypto assets such as Bitcoin, Ether and other for a US Dollar loan or stablecoin loan.
BnkToTheFuture The acquisition will enhance its status as an exempt registered securities business in Cayman Islands.
Simon Dixo, BnkToTheFuture CEO, said that by combining registered securities businesses with registered lending businesses, we believe we’re able to offer regulatory-compliant lending to users.
Salt Lending CEO Rob Odell commented on the developments: “Moving ahead with this acquisition offers an opportunity to improve our suite of products, and advance our Mission to preserve and grow crypto wealth.”
BnkToTheFuture stated that in addition to the previously mentioned plan, it also plans to create an option that will assist distressed lending companies (and their clients), who are unable. Resolve to declare bankruptcy despite regulatory concerns
According to sources, the online investment platform wants to buy the loan book of Celsius Networks’ crypto lending company Celsius Networks. BnkToTheFuture has a 5% interest in the crypto lender.
The terms of the deal were not disclosed. It follows similar struggles experienced by other crypto lenders.
The center of this phenomenon has been crypto lending firms year’s crypto downturn. Many major lending companies went under in the market crash. They blamed tough market conditions. Voyager Digital and Celsius Networks were hit hard by liquidity problems that pushed them off the edge.
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