DPW Holdings, Inc., a diversified holding company , announced today that its fintech lender, Digital Power Lending, LLC, a California Finance Lender and wholly-owned subsidiary of Ault Alliance, Inc. , is prepared to begin originating loans collateralized by both bitcoin (BTC) and Ethereum (ETH) cryptocurrencies. The Company anticipates the new collateral program, , to begin on or about March 10, 2021. All lending activities are subject to federal, state and local laws and restrictions, as applicable to each lending transaction.
The new program is an extension of the lending services established by DPL in 2017 that provide funding to businesses through secured and unsecured commercial loans throughout the United States. DPL provides businesses with operating capital to finance their growth.
Milton “Todd” Ault, III, said, “When DPW launched Digital Power Lending in 2017, we anticipated entering the fintech space and offering innovating lending solutions to growing businesses. Our new cryptocurrency-backed lending program is a natural extension of the Company’s experience with digital currency and the maturation of bitcoin (BTC) and Ethereum (ETH) as institutionally accepted forms of value. We anticipate DPL will contribute to the Company’s goals of topline revenue growth and improved bottom line results.”