NCR to acquire crypto ATM firm LibertyX
NCR Corporation has signed a definitive agreement for the acquisition of LibertyX, a cryptocurrency software provider, for an undisclosed sum.
LibertyX provides a digital currency solution which runs on ATMs, kiosks and point-of-sale (POS) systems.
It also partners with independent ATM operators, like Cardtronics, who own and manage sites at convenience stores, pharmacies and supermarkets.
Users can buy up to $3,000 worth of cryptocurrency per day from its ATMs using a debit card, or $500 from retailers.
NCR plans to offer the firm’s platform as part of its solutions suite for banks, retailers and restaurants.
NCR’s digital wallet and mobile applications will also provide the LibertyX solution across physical and digital touchpoints.
“Due to growing consumer demand, our customers require a complete digital currency solution,” says Tim Vanderham, chief technology officer at NCR.
“[This includes] the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels.”
Chris Yim, co-founder and CEO at LibertyX, says the deal can enable NCR customers to “quickly and easily” deploy cryptocurrency options for their customers.
He adds it will also “significantly expand” the scope, scale and reach of his firm’s software.
The transaction is expected to close before the end of 2021.