Crypto Lender SALT Now Takes Dogecoin as Collateral
Cryptocurrency investors have another way to access capital without having to liquidate their portfolios. SALT Lending, which has issued more than $50 million in blockchain-backed loans, is capitalizing on the liquidity in dogecoin and has begun offering loans in USD collateralized by longtime crypto darling DOGE. Dogecoin’s profile has been on the rise in recent months as investors have flocked to the altcoinwhile leaving others out in the cold.
SALT promoted the coin addition subtly on social media by adding Doge, a “Japanese dog breed Shiba Inu” who is the dogecoin mascot, to its Twitter profile. In addition to dogecoin, SALT also supports loans backed by litecoin (LTC), bitcoin (BTC) and ethereum (ETH).
“The majority of loans are collateralized by bitcoin, though some loans are collateralized by ethereum, litecoin or a combination of the three. We are excited to have Doge as our newest collateral type,” Jennifer Nealson, SALT’s chief marketing officer, told CCN.
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