The SBM Group and SALT Technology Enter Exploratory Partnership to Collateralize Blockchain Assets

SALT Lending’s Tools Allow Banks to Effectively Manage the Risk of Lending Against Blockchain Assets

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The State Bank of Mauritius, SBM Group and FinTech service provider SALT,  creators of the first Blockchain-backed loan platform, today announced that they have entered into an exploratory relationship to become the first to use Blockchain assets as collateral for lending services. SALT, which stands for Secured Automated Lending Technology, is a Financial Technology company. Their risk mitigation software allows financial entities, like SBM, to safely participate in a new market for loans collateralized by Blockchain assets.

“We are keen to explore providing banking services to this innovative company,” said K.C Li Kwong Wing, Chairman of the SBM Group. “This relationship will go a long way toward achieving our nation’s goal of becoming a hub for outstanding Blockchain companies and fostering financial inclusion.”

Chairman K.C Li further noted that, “SALT’s Blockchain-backed loan platform can give the SBM Group a tremendous opportunity to be a leader in this new global economy by facilitating the lending against borrower’s Blockchain assets. This relationship can enable the SBM to increase the scope and scale of its reach, providing an effective manner in which to participate with the world’s most rapidly expanding asset classes.”

“The relationship will provide expertise and resources to develop and drive adoption of innovative Blockchain business use cases, leveraging SALT’s protocol and asset agnostic distributed ledger based architecture,” said Benjamin Yablon, Co-founder of SALT. Benjamin Yablon is now based in Mauritius and is driving the initiative with the SBM. This relationship can enable the SBM Group to solidify a market-leading position in Blockchain credit managed services, infrastructure and security, setting a new standard for efficiency and quality of service.

“The potential for Blockchain Technology to bring innovation to the financial services industry is clear,” continued Benjamin Yablon. “Developing and implementing the technology on an industrial scale is the next step. Our partnership with SBM can help financial institutions realize this potential, bringing new levels of efficiency and revenue. With forward thinking institutions like SBM as partners, SALT has the potential to provide its services to even more of the global Blockchain community.”

James Duchenne, Managing Partner at Sutton Stone, a venture building and Blockchain advisory firm, established the relationship between SALT and SBM.

“Mauritius is an ideal destination for innovative Blockchain start-ups with its sandbox licensing scheme that can provide regulatory clarity, in addition to considered mechanisms for Foreign Direct Crypto Investment (FDCI) and facilitation of the commercialization of Blockchain ventures in Africa and India. As SALT works it’s way through the Sandbox process, other innovative Blockchain companies are going to consider Mauritius as a top destination for their operations centers. The SBM exploring with SALT to build the ecosystem is a perfect example of the drive to excel from Mauritius.”

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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