The Silicon Review
We are seeking more than new loans. We implore a worldwide societal impact from changing the way financial products are used: Shawn Owen
The woes of an early bitcoin investor. Until recently, people who paid virtually nothing for the virtual currency and watched it soar had only one way to enjoy their new wealth – sell. And many weren’t ready.
Lenders on the fringe of the financial industry are now pitching a solution: loans using a digital hoard as collateral.
In view of the above mentioned, we are thrilled to present SALT Lending, a company dedicated to providing users with cash loans backed by their existing crypto-currency assets.
SALT expands the possibilities for the blockchain to bring a new methodology to the lending marketplace.
The company was established in 2016 and is headquartered in Denver, Colorado.
Interview Excerpt: Shawn Owen, Founder/CEO
Why was the company set up? How did you select the vertical and decide to be a part of the global platform?
There is a glaring pain point for holders of crypto-assets which previously could not be addressed because traditional finance operations have no means to recognize the value of crypto-currency. This revealed a tremendous opportunity to disrupt the way in which the market could access cash. Using blockchain technology, SALT Lending was established to enable borrowers worldwide to collateralize chosen assets in their crypto-portfolios in exchange for cash loans.
Our platform bridges the ownership of cryptocurrency assets with the common use of fiat currency. What’s more, our technology is built to adapt to multiple blockchains, increasing the opportunity for global reach and immediate transactions.
How successful was your first project roll on? Share the experience.
It has been a tremendous success as it’s been answered with enormous demand. We are now methodically executing loans and preparing to accept a new wave of membership requests.
What were the grounds on which you have expanded your company and its offerings over the years?
We have launched in the U.S. and are strategically planning global expansion. Our team has laid the foundation in foreign jurisdictions which means our product will soon have a broader reach in crypto-secured locations. A host of additional financial products enabled by asset-backed debt are in the queue, such as credit cards for payment mechanisms.
We have an ardent ambition for blockchain technology. Realizing the scalability for total financial inclusion has world-wide implications for wealth building and independence. Our Blockchain Backed Loans™ are an example of how blockchains are a disintermediating technology which supports global connectivity.
What challenges did you face in your initial years? What can your peers learn from it?
The best-laid plans require agility and ability to adapt to an ever-changing landscape. Fundamentally companies built on innovation are blazing a trail for others to follow. There are no paved paths or simple roadmaps to reach the desired destination. Your company must be able to embrace the unknown, be willing to modify plans and remain courageous.
If you have to list five factors that have been/are the biggest asset to your organization, what would they be and why?
People – Talent and culture are an important mix. We are lucky to work with intelligent and driven professionals.
Passion for Disruption – We are seeking more than new loans. We implore a worldwide societal impact from changing the way financial products are used.
Agility – Innovation is not possible without flexibility and willingness to change. Our existence is dependent on agility.
Technology – The delivery and execution of our products is and will continue to be reliant on technology. Blockchains are the way of the future for more than just crypto-to-cash loans.
Market Acceptance – Because SALT Lending was built from within the community, we know the interests and nuances of our market. Our members rely on our maturity and expertise.
What do you feel are the reasons behind:
Your product popularity: Simply put, there is a clear need for our product. Further, enabling and fostering the growing community of crypto-currency holders and advocates is the key to ensuring ongoing popularity.
While we have a robust roadmap for the upcoming months, we are currently focused on continuing to refine our first product.
Your consistent growth as an organization: We continue to furiously pursue approvals to lend in U.S. States not already on our green-lighted list as well as countries in which there are crypto asset holders seeking cash loans. The approvals to lend are rapidly prevailing.
Where do you see your company a couple of years from now?
SALT Lending will be a leader in universal acceptance of multi-currency use. We are paving the way for current and future crypto-currency holders to demonstrate pragmatic and profitable wealth-building strategies.
The Man Behind The Operation
Mr. Owen is a serial entrepreneur with experience in management and ownership of enterprise operations with a passion for systems development, business operations, product delivery, and client service. He became involved with blockchain technology through his advocacy of bitcoin in early 2011. Shawn frequently speaks and writes on Blockchain technology and digital currencies.
Mr. Owen and his co-founders, Caleb Slade, Blake Cohen and Ben Yablon are driven to change the world through global financial inclusion.
“We are paving the way for current and future crypto-currency holders to demonstrate pragmatic and profitable wealth-building strategies.”