SALT Announces Partnership With Cion Digital For its Crypto Lending-as-a-Service

SALT and Cion Digital recently partnered up to bring SALT's crypto loan solutions to over 5,000 US auto dealerships.

Bishal Kumar Chanda3 min read
SALT Announces Partnership With Cion Digital For its Crypto Lending-as-a-Service

SALT and Cion Digital recently partnered up to bring SALT's crypto loan solutions to over 5,000 US auto dealerships. Moreover, it marks the launch of SALT's embedded crypto lending service. It will enable financial service providers and fintech platforms to deploy crypto-financial solutions rapidly.

Launched in 2016, SALT was the first platform to offer crypto-backed loans. Since then, it has optimized its servicing operations and crypto lending technology. Over the years, SALT has built a complete debt management and risk platform for managing highly complex crypto loans. In addition, with the launch of its Embedded Crypto Lending, SALT is expanding this technology to other platforms. SALT's Embedded Crypto Lending will help them offer new and innovative products to their customers.

As stated by SALT CEO Justin English, since the very beginning, SALT has been building its direct-to-customer lending business keeping the embedded model in mind. He added, "from crypto native wallets and exchanges to large neobanks and traditional financial institutions, market participants are increasingly intent on digitizing their platforms to accommodate the ever-growing demand for crypto, and we're excited to help facilitate the transformation."

Meanwhile, Cion Digital recently announced its partnership with CarNow and has a network of over 5,000 dealers. After it collaborates with SALT, car buyers can now use crypto collaterals for loans at the point of sale at highly competitive rates. Moreover, car buyers can now use crypto to make down payments or buy a car fully.

"Cion Digital is excited to partner with SALT to offer our extensive network of dealers the ability to turn on this exciting new point-of-sale financing option, which is often a lower-cost loan than traditional financing options," stated Cion Digital Co-founder Fred Brothers. "With almost half of Millennials now owning crypto, we are working together to increase dealer capabilities for this fast-growing market of buyers who want more financing and payment options at the dealership."

After the Cion Digital partnership, SALT is experiencing an increased demand for its crypto lending-as-a-service. Moreover, the platform plans to announce additional partners shortly.

Also, SALT announced the launch of StackWise in February this year. Using StackWise, loan holders on the platform can earn a portion of their monthly installments as crypto rewards.

About SALT

Founded in 2016, SALT is the pioneer of crypto-backed lending. Moreover, it aims at building simple, familiar, and novel crypto financial products. Its goal is to enable consumers to generate long-term wealth by increasing their access to economic opportunities.

About Cion Digital

Cion Digital's proprietary Blockchain Orchestration Platform enables institutions to build innovative finance solutions. In addition, it helps them connect their legacy systems to the rapidly changing world of decentralized finance (DeFi). By expanding and integrating its existing financial systems, Cion Digital allows clients access to revenue opportunities to succeed in the evolving digital economy.

Moreover, it has created the ultimate crypto dealership platform connecting auto dealers and lenders with car buyers for crypto payments and loans.

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