NCR Corporation announced on January 13 that it had acquired LibertyX, a provider of cryptocurrency software and an ATM network company. NCR, the largest manufacturer of ATMs, announced last August that it would acquire LibertyX. The financial terms of the acquisition have not been revealed.
NCR considers LibertyX a strategic fit for its business operations. NRC stated that it would be able to offer complete digital currency solutions to clients. This includes the ability to buy and sell cryptocurrency, accept cross-remittance payments and accept digital currency payments through both physical and digital channels.
LibertyX’s digital currency solution works on ATMs, kiosks and point-of-sale (POS) systems. It partners with ATM operators like NCR’s Cardtronics, which manages ATMs in the US and also owns the Allppoint network. ATMs can be found at convenience stores, pharmacies and supermarkets. NCR will integrate LibertyX capabilities into its solutions for restaurants, banks and retailers through its digital wallets and mobile apps.
Don Layden, Executive Vice President of NCR, explained that the transaction increases the company’s ability to offer digital currency solutions and capabilities. In addition, this will enable further expansion of cryptocurrency on the retail level.
NRC’s latest initiative is the result of a strong belief in cryptocurrency and its strategic uses. NCR and NYDIG, a digital asset management company, partnered last June to allow 650 US banks to offer Bitcoin trading services for approximately 24 million customers.
This partnership will allow credit unions and community banks in the US to offer crypto trading services to their customers through mobile apps that are integrated by the payment provider.