News

Digital Power Lending aims to launch crypto ATM network

January 31, 2018

DPW Holdings Inc., a diversified holding company, has announced that its subsidiary, Digital Power Lending LLC, plans to launch a network of cryptocurrency ATMs.

The ATMs will allow for the purchase and sale of cryptocurrencies along with cash withdrawals, according to a press release. The first ATMs will be installed in five hospitality locations associated with DPW and will focus initially on bitcoin and Bitcoin Cash, Ethereum and Litecoin, with other cryptocurrencies to be included later.

Digital Power Lending is awaiting the completion of the review of its pending application for a California finance lender license.

"We are very pleased to announce our development of a network of cryptocurrency ATMs which will be initially located in Southern California," DPL CEO and Manager William Corbett said in the release. "Our primary mission is to be a proactive lender and facilitate the national distribution of crypto ATMs while the traditional banking industry does not serve the cryptocurrency market."