The increasing acceptance of cryptocurrencies like Bitcoin and Ethereum is there for all to see. Hence, it is no surprise that DPW Holdings Inc (NYSE: DPW) is in the process of offering business loans that are collateralized by Ethereum and Bitcoin.
The news emerged on Wednesday and it has created significant excitement among investors. The DPW stock rallied strongly during after-hours trading on Wednesday and gained as much as 48%.
The company had established its lending service back in 2017 and the new offering is an extension of that. DPW provides both secured and unsecured commercial business loans to entities operating throughout the United States.
The new offering is going to be made available from March 10 this year and it goes without saying that market watchers are expected to follow the developments closely. The recent rally in Bitcoin and Ethereum has brought both cryptocurrencies into focus and it could well prove to be a very timely offering from DPW Holdings.