A
commercial bank in Mauritius has inked a deal with blockchain lending startup
SALT to test the use of digital assets as collateral for loans.
The
"exploratory" deal between the State Bank of Mauritius (SBM) and
SALT, which offers a platform allowing users to borrow against their
cryptocurrency holdings, will see the bank testing that specific application.
The
development represents the latest step in a wider effort to make Mauritius – an
island nation in the Indian Ocean with an estimated population of 1.2 million
people – a hub for blockchain startups. That goal, advanced by local officials
this past spring, was echoed in statements from the bank.
K.C. Li
Kwong Wing, chairman of the SBM Group, said of the partnership:
"This relationship will go a long way toward achieving our nation's goal of becoming a hub for outstanding blockchain companies and fostering financial inclusion."
Notably,
the chairman indicated that the bank was interested in potentially forming part
of the startup's lending services, which could see SBM providing financing for
the platform. That said, discussions on that particular point appear to be in
the early stages.
"We
are keen to explore providing banking services to this innovative
company," he said.
As part of
the Mauritian government's plans to develop the island as a blockchain center,
representatives from ethereum startup ConsenSys visited the nation over the
summer to meet with members of both the public and private sector. The ultimate
aim of the exploratory talks was to create a so-called "Ethereum
Island" to assist blockchain innovators seeking to branch out into Africa,
Asia and elsewhere.
Source : CoinDesk
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