DENVER, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Following its successful token generation event, WAX today announced it will use blockchain-backed loan platform SALT to allow token holders to use WAX as collateral for cash loans. WAX token holders will be able to keep their cryptocurrency assets, including gaming skins and crypto collectibles, while accessing cash loans on the SALT platform.
“WAX is a groundbreaking project and we’re excited to welcome them as an early user of SALT,” said Shawn Owen, CEO of SALT. “We created SALT to provide traditional loans secured by non-traditional collateral, and WAX is the perfect example of a community that can benefit from this.”
“36,000 participants joined the WAX token generation event, many of them first-time cryptocurrency users. We’re committed to providing the WAX community the best possible experience, and SALT helps us achieve this,” said Malcolm CasSelle, President of WAX and CIO of OPSkins.
The SALT Lending platform allows holders of blockchain assets to leverage their holdings as collateral for cash loans. SALT is the first asset-backed lending platform to give blockchain asset holders access to cash without having to sell their tokens. SALT also provides investors with an innovative and secure opportunity to lend against a high-growth asset class through a fully-collateralized debt vehicle.
Created by top virtual goods marketplace OPSkins, WAX allows anyone to host their own marketplace to buy and trade securely and with low fees from anywhere in the world. WAX is designed to serve the 400 million gamers who already collect, buy, and sell in-game items with a simple exchange that leverages blockchain technology for transaction verification and recording.
ABOUT WAX
WAX is a functional utility token that supports a decentralized platform, enabling anyone to operate a fully functioning virtual marketplace with zero investment in security, infrastructure, or payment processing. Developed by the founders of OPSkins, the world’s leading marketplace for online video game assets, WAX is designed to serve the 400+ million online players who already collect, buy, and sell. With the inclusion of WAX’s simple exchange widget, gamers will have access to a worldwide market with blockchain trust and transaction verification. For more information, please visit https://www.wax.io.
MEDIA CONTACT: Transform Group, wax@transform.pr
ABOUT SALT
SALT operates a blockchain-backed lending ecosystem. Its Secured Automated Lending Technology facilitates a new market for loans that are cost-effective and fair, protecting the investments of both lenders and borrowers. By providing a trustworthy, globally available solution for blockchain-backed loans, SALT allows borrowers to simultaneously preserve and capitalize on the value of their holdings. SALT’s innovative risk-mitigation and loan management tools give lenders a gateway to investing in this rapidly growing class of assets. For more information, please visit www.saltlending.com
MEDIA CONTACT: Transform Group, salt@transform.pr