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Avra and Mango Pay to launch cryptocurrency kiosk network

Avra Inc., announced the company entered into a non-binding letter of intent with Mango Pay SRL, a Dominican Republic-based electronic payment kiosk solutions provider.

December 10, 2014

Avra Inc., provider of digital currency solutions, announced the company entered into a non-binding letter of intent with Mango Pay SRL, a Dominican Republic-based electronic payment kiosk solutions provider.

The goal of the LOI is to facilitate the development of a regional network of cryptocurrency ATM kiosks for bitcoin transactions and additional digital currencies in the future. The terms of the LOI will bring Mango Pay and Avra together to build a software-based solution for 90 Mango self-service payment kiosks, with a global rollout planned for 2015.

The solution intends to eliminate investment in expensive hardware by providing clients a kiosk solution to purchase digital currency with cash. In exchange clients will receive digital currency directly into their digital wallets or paper receipt.

"We are delighted by the prospect of working closely with one of the leaders in the kiosk sector in order to gain entry into this largely undeveloped market. We are thrilled to play a part in bringing new technologies to the consumer marketplace through a proposed initial trial at over 90 Mango Pay kiosks nationwide," said Steve Shepherd, CEO of Avra, in a company release. "Mango Pay has a strong regional brand and presence in the Dominican Republic, and they have the vision to see the potential that bitcoin has in this developing marketplace. The opportunity ranges from providing a decentralized currency combatting currency devaluation to allowing the unbanked to make internet purchases. The possibility for growth is truly significant."

Avra is rebranding its URL in light of the new partnership to the registered domain www.avraglobal.com.