NCR Corp has unveiled plans to acquire Bitcoin ATM provider LibertyX.
— LibertyX.com 🗽 🏧 (@libertyx) August 3, 2021
NCR Corporation was founded in 1884, has 36,000 employees, is listed on the New York Stock Exchange under the ticker NCR, as well as being listed in the Fortune 500, and has a turnover of almost $7 billion.
It is also the de facto leader in the ATM market in the US, with about 31% of the market share and about $18 billion withdrawn from its ATMs each year, and is also the largest PoS provider.
The company’s official press release states that it has already reached a definitive agreement with LibertyX, described as “a leading cryptocurrency software provider”, and that in the future NCR will offer LibertyX ATM functionality “as part of its solutions for banks, retailers and restaurants” across its physical and digital touchpoints.
The financial terms of the transaction are not known, but the acquisition is expected to be completed by the end of the year.
LibertyX was founded in 2013 and now operates more than 10,000 crypto ATMs in the US.
Bitcoin ATMs ready for mass deployment
If this allows NCR to integrate crypto services into its devices, these same services could literally flood the market in the future, given that they are now relegated to a marginal position in this market, and given that NCR’s numbers are impressive.
NCR Corp Chief Technology Officer Tim Vanderham said:
“Due to growing consumer demand, our customers require a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels. The LibertyX solution will accelerate our ability to rapidly deliver these capabilities to the market”.
LibertyX co-founder and CEO Chris Yim added:
“NCR is an industry leader in banking, retail and hospitality, and has a tremendous customer base across our growth markets. We look forward to offering NCR’s customers the ability to quickly and easily offer the digital payments and cryptocurrency capabilities consumers want, while significantly expanding the scope, scale and reach of our software”.
Truth be told, NCR stock debuted on the stock exchange today with a -4%, but there are many stocks with similar losses today. It has since recovered 1%, and is still very close to all-time highs.