Digital Power Lending to Launch Cryptocurrency ATM Network

Digital Power Lending plans to launch a network of cryptocurrency ATMs to allow for the purchase and sale of cryptocurrencies along with cash withdrawals
29 January 2018   603

DPW Holdings, Inc., a diversified holding company, announced today that its subsidiary, Digital Power Lending, LLC plans to launch a network of cryptocurrency ATMs to allow for the purchase and sale of cryptocurrencies along with cash withdrawals.

We are very pleased to announce our development of a network of cryptocurrency ATMs which will be initially located in Southern California. Our goal is to build a national brand and network with multiple cryptocurrencies readily available for consumers.

 

William Corbett

The CEO and Manager of Digital Power Lending

The first ATMs will be installed in 5 hospitality locations associated with DPW Holdings, Inc. The ATMs distributed and managed by Digital Power Lending will focus initially on Bitcoin, Bitcoin Cash, Ethereum and Litecoin with other cryptocurrencies to be included later.

The company also announced that Digital Power Lending is still awaiting the completion of the review of its pending application for a California Finance Lender License and it has undergone a series of standard and customary questions and all corrections have been minor and procedural.

Digital Power Lending noted that the anticipated distribution of the ATMs may be subject to regulatory review or approval.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   121

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.
 

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.