State Bank of Mauritius will now accept Bitcoin and Ethereum as collateral for loans

The State Bank of Mauritius (SBM) will be accepting Bitcoin and Ethereum as collateral for loans. They will be offering this service in partnership with company SALT.

SALT(Secured Automated Lending Technology), has developed a lending platform that allows for Bitcoin and Ethereum to be used as collateral for loans. These loans can be paid out in various national currencies including the US dollar and the Euro.
“Developing and implementing the technology on an industrial scale is the next step,” said Yablon. “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,” Benjamin Yablon, Co-Founder at SALT is reported to have said.
According to SALT, they make their money through transaction fees and licensing. The lending platform is built on industry-standard Ethereum ERC20 smart contracts.
Source: iafrikan
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