TaaS contributes 215.3 BTC to SALT’s upcoming Token Generation Event
Kyiv, Ukraine – July 27, 2017 –Token-as-a-Service (TaaS), the first-ever tokenized closed-end fund designed to reduce technical barriers and investment risks in blockchain assets, announced its strategic partnership with SALT, a lending platform that allows holders of blockchain assets to leverage their holdings as collateral for cash loans.
SALT, which stands for Secured Automated Lending Technology, is a membership-based financial platform based in Denver, Colorado. SALT is launching the first lending platform to support loans denominated in national currencies which are collateralized by blockchain assets. The asset-backed lending platform provides blockchain asset holders access to liquidity without having to sell their tokens.
Membership to the SALT Lending Platform is built on ERC 20 smart contracts. Prior to the launch of the platform later this year, SALT has soft-capped the public membership token sale at $35 Million. TaaS is contributing 215.3 BTC to SALT’s token sale, establishing itself as a significant backer of the platform. This contribution provides 444,300 SALT tokens to TaaS’ portfolio.
Commenting on the partnership Shawn Owen, CEO of SALT, said: “We’re excited to have such innovative investors such as TaaS backing our project. They see a clear need for our product in the marketplace and we look forward to collaborating with them long into the future”.
SALT is playing a pioneering role in providing investors with a secure opportunity to lend against a high-growth asset class through a fully-collateralized debt vehicle. The platform extends itself as a truly innovative technology developed by a reliable and experienced team. The collaboration between TaaS and SALT goes beyond a financial backing and aims to promote a stronger cooperation across a number of areas, including marketing and public relations as well as strengthening the performance of crypto assets in general.
“We are delighted to partner with SALT. This partnership is aligned with TaaS’ strategic goals to enhance cooperation with wide range of blockchain ventures as well as to diversify the fund’s portfolio. It is a key to continuing our successful investment performance,” said Ruslan Gavrilyuk, co-founder and President of TaaS.