• With the acquisition of LibertyX, payments giant NCR has integrated cryptocurrency facilities in over 750,000 ATMs worldwide.
  • The transaction will help strengthen the organization’s ability to deliver virtual asset solutions and capabilities.
  • These facilities are available to banks, retailers and restaurants through mobile apps and NCR’s virtual wallet.

Bitcoin and other cryptocurrency assets are on the cusp of mainstream acceptance as ATM manufacturer NCR Corporation has allowed customers worldwide to trade cryptocurrencies on more than 750,000 ATMs and virtual touchpoints in 140 countries.

NCR owns LibertyX

This development comes on the heels of NCR's announcement that it has acquired ownership of cryptocurrency software provider LibertyX for an undisclosed amount. NCR had been considering acquiring LibertyX since August 2021.

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NCR has joined forces with maverick ATM operators, including the acquisition of Cardtronics in a $2.5 billion all-cash deal. The acquired organization owns and handles ATMs at convenience stores, pharmacies and supermarkets across the U.S. Following the transaction, Michael D. Hayford said at the time that the acquisition would drive plans for "NCR as a Service," which was developed on December investor day, to further transform NCR's revenue mix into recurring revenue, software, and services, and to add value to customers.

As the LibertyX cryptocurrency asset solution currently operates in point-of-sale systems, kiosks and ATMs, NCR will leverage its capabilities to provide customers with enhanced cryptocurrency solutions through its physical and virtual platforms.

Banks, retailers and restaurants can access the solution through NCR's virtual wallet and mobile app. Customers will be allowed to buy and sell cryptocurrency assets, accept cryptocurrency payments, and organize remittances for cross-border transactions.

As customers' needs escalate, they need a holistic virtual currency solution that includes selling and buying digital assets, making cross-border remittances and accepting physical and virtual virtual currency payment payments, said Tim Vanderham, NCR's chief technology officer.

Commenting on the acquisition of LibertyX, executive vice president and president of networks and payments for NCR Corporation, Don Layden said the finalization of the deal will enhance the ability to provide digital asset solutions and capabilities to assist its clients' businesses. The organization is pleased with the addition of LibertyX and it is a great addition to the team.

The acquisition provides NCR with access to 9,500 Bitcoin distribution locations and 20,000 retail stores through the LibertyX application. Under LibertyX, customers can use their debit cards to purchase up to $3,000 worth of bitcoin per day via ATM, $3,000 from cash kiosks, and $500 from retail locations.

Cryptocurrency adoption

At the same time, digital assets continue to gain relevance and important organizations are getting involved and driving cryptocurrency adoption by making it easier for customers to spend, access and invest in virtual assets every day.

In August, virtual currency broker Voyager Digital Ltd took ownership of cryptocurrency payment platform Coinfy for $84 million as part of a plan to make cryptocurrency assets available to everyone worldwide.

Fintech giant Square has streamlined the bitcoin purchase process for Afterpay's 3.6 million customers after acquiring BNPL for $29 billion in August.