Bnk To The Future Eyes bought crypto lender SALT

Crypto lending platform SALT has received a buyout offer from a popular online investment platform – a move the company says could boost its product offering and advance its mission to make digital assets more accessible to a mainstream audience.

Bnk To The Future, or BF, has submitted a letter of intent to acquire SALT for an undisclosed amount, the companies announced on Friday. The acquisition is subject to the signing of definitive agreements by both parties and requires regulatory approval. Robert Odell, Chief Product Officer of SALT, described the potential acquisition as the unification of the first movers in the cryptocurrency market:

“This potential association will combine SALT, the world’s first crypto lending platform, with BF, the world’s first Bitcoin and crypto securities business.”

If the deal goes through, it won’t affect SALT customers. “We want to assure you that there will be no changes to your credit as a result of this announcement,” the company said.

In the year Founded in 2016, SALT was one of the first crypto-backed lending platforms to offer borrowers the ability to access loans backed by digital assets such as Bitcoin (BTC) or Ether (ETH). The company’s formation came ahead of 2020, the so-called Winter of Diffie, when dozens of decentralized finance protocols reached multibillion-dollar valuations.

Bnk To The Future is a micro venture capital firm that allows investors to back early stage fintech and crypto companies with up to $1,000. Startups can raise capital through the platform by offering their products and services directly to investors. Through BK, startups have reportedly raised over $1.7 billion.

Related: VC Roundup: Lightning Network Payment Train, DeFi Trading Platform, and Blockchain Security Firm Raise Millions

As the crypto contagion slows down, venture capital continues to fund digital asset startups with billions of dollars. Funding deals fell 43% in July compared to the previous month, but overall capital flows were remarkably consistent in the first and second quarters.

Crypto VC funding is down from its peak but overall industry activity remains strong.

Between January and July, crypto projects raised $31.3 billion in venture funding, surpassing the $30.5 billion raised in 2021, according to Cointelegraph Research.