Bnk to the future to buy cryptolender salt
One of the first bitcoin and crypto securities firms is looking to acquire one of the first crypto lending platforms in a deal that aims to result in a regulatory-compliant solution for customers affected by the current crypto lending crisis.
Bitcoin and crypto securities firm Bnk To The Future has signed a non-binding letter of intent to acquire crypto-backed lending platform Salt Lending, according to a press release on Tuesday (September 6). Apart from the experience in their respective fields, both companies have expertise operating advanced securities and lending technologies.
The terms of the agreement were not made public.
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“We want to provide an alternative for distressed lending companies that may not be able to emerge from bankruptcy due to regulatory issues. We have previous experience of supporting our sector to recover quickly with our involvement in the Bitfinex exchange hack recovery in 2016, ” said Bnk To The Future CEO and co-founder Simon Dixon in the release.
Headquartered in Grand Cayman and founded in 2011, Bnk To The Future aims to offer qualified investors the opportunity to invest in the companies and products that build the future of finance.
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“Never has the importance of governance, regulation and over-security been more relevant in the crypto industry than right now, given the painful lessons of 2022’s collapse,” Shawn Owen, Salt’s interim CEO and board member, said in the press release.
“We see a time-sensitive threat to our sector, which could be an opportunity to help bring confidence and hope back to so many who have been devastated by recent events, and a clear path towards a business that we have been working with since late in 2016.”
Based in Denver, Colorado, and founded in 2016 by CEO Benjamin Yablon and other bitcoin enthusiasts, Salt Lending develops data, index and ETF products to help traders and investors improve, measure and customize their portfolios.
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