Denver, CO, April 21, 2022 (GLOBE NEWSWIRE) -- (via Blockchain Wire) SALT and Cion Digital today announced a strategic partnership to bring SALT’s crypto lending solutions to 5,000+ auto dealerships in the US. The announcement marks the launch of SALT’s Embedded Crypto Lending Service, which will enable financial service providers and fintech platforms to rapidly deploy crypto financing solutions.
Having launched in 2016, SALT was the first platform to offer crypto-backed loans and has since been focused on optimizing its lending technology and servicing operations. Over the past few years, the Company has built a full stack loan management and risk platform that manages complex crypto loans at scale. With the launch of Embedded Crypto Lending, SALT is bringing this technology to other platforms, helping them further their mission to offer new and novel products to their customers.
“We’ve been building our direct-to-consumer lending business with the embedded model in mind from the start,” said SALT’s CEO Justin English. “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.”
By partnering with Cion Digital, who recently announced a collaboration with CarNow and their network of nearly 5,000 dealers, car buyers will be able to use their crypto as collateral for loans at point-of sale at highly competitive rates. Car buyers will also be able to use crypto to make a down payment or pay for a vehicle in full.
“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,” said Fred Brothers, President and Co-founder of Cion Digital. “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.”
With Cion Digital becoming its first official partner, SALT is already experiencing an increase in demand for its Embedded Crypto Lending Service and plans to announce additional partners in the near future.
Visit SALT’s Embedded Crypto Lending page or contact partnerships@saltlending.com to learn more.
Auto Dealers interested in learning more about this new point-of-sale financing option should contact Cion Digital at info@ciondigital.com.
About SALT
Founded in 2016 and headquartered in Denver, SALT is the pioneer of crypto-backed lending. SALT’s mission is to build and enable simple, familiar and novel crypto financial products that increase access to financial opportunities and give consumers more control over their ability to generate long-term wealth.
SALT’s crypto lending products enable its users to seamlessly access credit against their crypto portfolios - while the Company’s B2B Embedded Crypto Lending Service enables 3rd party platforms to offer these products to their users. For more information, visit www.saltlending.com or follow us on Twitter, Facebook and Medium
About Cion Digital
Cion Digital’s proprietary Blockchain Orchestration Platform allows institutions to build innovative finance solutions quickly, and to seamlessly connect their legacy systems with the complex and ever-changing world of decentralized finance.
Cion Digital has built the ultimate crypto dealership platform connecting auto dealers and lenders with a new age of car buyers to offer cryptocurrency payments and loans.
For more information visit us at https://www.ciondigital.com
