Worldwide Asset eXchange (WAX) will use blockchain-backed loan platform SALT (Secured Automated Lending Technology) 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.
Shawn Owen, CEO of SALT, said: “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.”
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.
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.