The LaaS concept isn’t limited to just traditional lending anymore. SALT, a pioneer in crypto-backed lending, announced a Lending-as-a-Service tool that will enable up to 5,000 auto dealerships the ability to offer crypto-collateralized car loans. It’s called Embedded Crypto Lending and made possible through a partnership with Cion Digital.

“We’ve been building our direct-to-consumer lending business with the embedded model in mind from the start,” said SALT’s CEO Justin English. “From crypto native wallets and exchanges to large neobanks and traditional financial institutions, market participants are increasingly intent on digitizing their platforms to accommodate the ever-growing demand for crypto, and we’re excited to help facilitate the transformation.”

Car buyers will be able to user their crypto as collateral for car loans, often at a lower cost than alternatives, while at the same time being able to pay for a car in full with crypto or at least use it to make a down payment.

“With almost half of Millennials now owning crypto, we are working together to increase dealer capabilities for this fast-growing market of buyers who want more financing and payment options at the dealership,” said Fred Brothers, President and Co-founder of Cion Digital.

In California, License no. 60 DBO77905 authorizes Digital Power Lending (DPL) to make commercial loans in the state. Offering everything from merchant cash advances to equipment financing, and more, DPL is one of many companies working to provide capital to small businesses.

But DPL stands out for two reasons. First, the company’s founder and executive chairman, Milton “Todd” Ault III, has more than 100,000 subscribers on his youtube channel. Second, DPL plans to fund up to $100 million in commercial loans secured by Bitcoin, according to a recent announcement. Planning to lend in the individual range of $1 million to $25 million, DPL says that the program “will allow the borrower to repay a loan using various methods including cash, Bitcoin, or, in the case of convertible promissory notes, common stock of the borrower.”

“The Company’s objective is to allocate a total of $250 million in capital to DP Lending, including the $100 million in Bitcoin,” the company states.

Ault explained, “From my many years of financing companies, I know all too well the challenges faced by these aspiring entrepreneurs and employers. It strikes me as a natural progression of the Company and its subsidiaries to join to provide a new unique source of capitalization and to assist in their growth while creating a new revenue stream in a very positive and mutually beneficial way.”

Into crypto? Join deCashed’s first in-person event at The Refinery Rooftop on May 11th in New York City from 6 – 9pm. Brought to you by the same team behind deBanked, attendees will be able to connect with the crypto community for our three-hour open-bar debut.

deCashed requires a baseline of crypto knowledge to enter. The registration fee can only be paid in crypto (you choose which kind) for a dollar-equivalent price of $25. Memecoins and NFTs can be accepted. NO CASH or CREDIT CARDS.

Who Are We?

We’re the same team behind deBanked, one of the oldest non-bank finance media companies in the US. deBanked inked an advertising contract in January 2015 that was priced strictly in bitcoin, making it one of the first firms to ever ink a crypto deal that had no peg to the US dollar.

We’ve produced several short docu-videos about the crypto-scene including an interview with Miami Mayor Suarez in November 2020, interviews at NYC’s Blockchain Center, and coverage of NFT NYC.

deBanked also put its own smart contract on the ethereum blockchain in 2021, giving it the ability to mint ERC-721 NFTs. It debuted its own just-for-fun NFT collection in October, viewable on OpenSea.

The deBanked team has put on twelve events since 2017: in New York, Miami, San Diego, and Toronto.

A Doxxed Founder (LinkedIn)

deCashed founder Sean Murray first turned his laptop into a node on the bitcoin network in 2014. Having enjoyed the olden days of mining with a USB stick and in-person crypto trading at the original Bitcoin Center on Broad Street in NYC, Murray saw the potential use case for non-bank payments.

Murray was also in the top 5% of contributors to the ConstitutionDAO, the Decentralized Autonomous Organization that made headlines for raising $43 million to try and buy a copy of the United States Constitution at Sotheby’s. Murray’s participation was noted in The New Yorker magazine on account of his having gone to Sotheby’s dressed as George Washington on the day of the auction.

Murray is also among the many speakers chosen to present at NFT NYC in June.

One thing that has remained consistent in Murray’s crypto journey is his lack of interest in whether or not the value of the coins go up or down. “The price has never mattered to me,” he says. “The ability to operate and move money completely independent of the banking system is what makes crypto so powerful. It’s about being de-banked and de-cashed and still being able to carry on business.”

Ready to get deCashed? REGISTER NOW for our May 11th event.

Methods of payment already accepted:

• Eth, Eth tokens, Eth NFTs, btc, SOL, Dogecoin, Dai, Litecoin, Bitcoin Cash, USD Coin.
• Coinbase & MetaMask friendly

Have a suggestion? Help us become even more deCashed! Email events@decashed.com.

SoFi, the nation’s newly chartered bank, added 25 new cryptocurrencies to SoFi Invest in 2021. The company now touts “thirty available coins” on its website.

Despite calling crypto a growth product in the Q4 earnings call, there was no mention of it in the year-end investor presentation.

SoFi Invest competes with Robinhood. Touting that anyone can get started “with just $10,” the company advertises that the cool part about crypto is that it can be traded 24/7.

“Weekends, holidays, middle of the night-no time is off limits,” the company says.

The service is a profit center for SoFi, who charges a markup of up to 1.25% on crypto transactions. Users are not permitted to transfer their crypto to external wallet, however.

“We take security seriously at SoFi Invest and by having a closed system we can better secure your crypto assets,” the company’s website states. “In the future, we may consider adding the ability to transfer crypto into or out of your SoFi Invest account, but it isn’t a planned feature at this time.”