NCR pushes crypto with Bitcoin ATM key deal

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Bitcoin ATMs are all the rage. Just ask NCR Corp, which just revealed its intention to acquire Bitcoin ATM software provider LibertyX. Although the companies have kept the financial terms of the deal close at hand, they said the tie-up should be finalized by the end of the year. NCR said it completed the acquisition in response to customer demand for the following:

LibertyX describes itself as a network of bitcoin ATMs, cashiers, and kiosks. Its technology is used at 20,000 retailers and nearly 10,000 ATMs. With the muscle of the NCR brand, LibertyX’s crypto solution will now be available in financial institutions, physical outlets and restaurants.

In turn, consumers will have the opportunity to make crypto payments at more merchants. The NCR payments infrastructure can be found at major retailers, including big box retailer Walmart, although NCR has not specified which companies would take advantage of the crypto features.

Market reaction

Typically, when a merger is announced, the shares of the buying company are under pressure. This is what is happening to Square shares today after its announced deal to buy Afterpay. In the case of NCR and LibertyX, however, buyers’ shares are actually up 1.5% during the trading session, which could be a sign that investors are approving of its crypto expansion. -cash.

In the cryptocurrency market, the price of bitcoin is under pressure, falling more than 3% in the past 24 hours. The price of bitcoin fell below the $ 40,000 level again despite spending the weekend above this psychologically significant threshold.

General public adoption

The response on social media has been overwhelmingly positive, including from NCR Chief Technology Officer Tim Vanderham, who said he was proud to lead the team that will bring crypto and digital capabilities to the masses. digital assets.

The story continues

NCR is no stranger to crypto. In June, NCR and NYDIG teamed up in a deal that provided bitcoin solutions to banks and credit unions, giving users the ability to trade crypto through mobile apps.

Despite the short-term pressure on the price of bitcoin, the deal between NCR and LibertyX bodes well for the future of cryptocurrency adoption. Considering that NCR is a Fortune 500 company, the combination has the potential to propel bitcoin further into the mainstream.

This article originally appeared on FX Empire

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