Crypto currency

NCR Corporation Announces Acquisition of LibertyX

On January 13, NCR Corporation, one of the world’s largest manufacturers of automated teller machines (ATMs), announced a complete acquisition of LibertyX, a cryptocurrency software provider and ATM-network company. However, both parties have not disclosed financial terms of the transactions. In August last year, NCR announced plans to acquire LibertyX.

NCR identifies LibertyX as a strong strategic fit for its business operations. NRC stated that the
 
 acquisition 
would enable it to provide complete digital currency solutions to its clients, including the ability to purchase and sell cryptocurrency, conduct cross remittance, and accept digital currency payments across physical and digital channels. The LibertyX digital currency solution runs on point of sale (POS) systems, kiosks, and ATMs. LibertyX partners with ATM operators such as NCR’s Cardtronics, who manages and owns ATMs and the Allppoint network in the US at locations like supermarkets, pharmacies, and convenience stores. Moving forward, NRC will therefore integrate LibertyX capabilities and make them available as part of its solutions to restaurants, retailers, and banks through its digital wallet and mobile applications.

Don Layden, Executive Vice President at NCR Corporation, talked about the development and said: “The completion of this transaction enhances our ability to provide digital currency solutions and capabilities that help run our customers’ businesses. We are pleased to welcome LibertyX and its outstanding team to NCR.”

Cryptos Are Coming to Everyone’s Checking Accounts

The latest effort by NRC Corporation occurs as the enterprise technology provider is a strong believer in the benefits of cryptocurrency and its strategic applications. In June last year, NCR partnered with digital asset management firm NYDIG to enable 650 US banks to provide
 
 Bitcoin 
trading services to about 24 million total customers. Partnership is set to enable community banks and credit unions in the US to provide their customers with crypto trading services through mobile applications inbuilt by the payment provider (NRC).

Instead of having to deal with cumbersome regulatory requirements related to holding crypto assets for their clients, such financial institutions can opt to make crypto services available by simply relying on NYDIG’s custody services. By providing customers with a way of purchasing and spending Bitcoin within their existing accounts, the move put US banks and credit unions in direct competition with cryptocurrency exchanges.

Last month, Visa Corporation launched a crypto advisory service that aims to help banks and credit unions further their crypto strategies. AJ Shanley, vice president of crypto at Visa, commented about the development and stated: “A lot of banks are telling us they are watching deposits leave their institutions and going to crypto exchanges, and they’re asking if there is a potential role for banks to play.” The move by Visa comes at a time when PayPal, Block Inc (formerly Square), and other fintech firms aggressively use crypto coins to court new customers and as rival Mastercard recently launched its own cryptocurrency-related services.

On January 13, NCR Corporation, one of the world’s largest manufacturers of automated teller machines (ATMs), announced a complete acquisition of LibertyX, a cryptocurrency software provider and ATM-network company. However, both parties have not disclosed financial terms of the transactions. In August last year, NCR announced plans to acquire LibertyX.

NCR identifies LibertyX as a strong strategic fit for its business operations. NRC stated that the
 
 acquisition 
would enable it to provide complete digital currency solutions to its clients, including the ability to purchase and sell cryptocurrency, conduct cross remittance, and accept digital currency payments across physical and digital channels. The LibertyX digital currency solution runs on point of sale (POS) systems, kiosks, and ATMs. LibertyX partners with ATM operators such as NCR’s Cardtronics, who manages and owns ATMs and the Allppoint network in the US at locations like supermarkets, pharmacies, and convenience stores. Moving forward, NRC will therefore integrate LibertyX capabilities and make them available as part of its solutions to restaurants, retailers, and banks through its digital wallet and mobile applications.

Don Layden, Executive Vice President at NCR Corporation, talked about the development and said: “The completion of this transaction enhances our ability to provide digital currency solutions and capabilities that help run our customers’ businesses. We are pleased to welcome LibertyX and its outstanding team to NCR.”

Cryptos Are Coming to Everyone’s Checking Accounts

The latest effort by NRC Corporation occurs as the enterprise technology provider is a strong believer in the benefits of cryptocurrency and its strategic applications. In June last year, NCR partnered with digital asset management firm NYDIG to enable 650 US banks to provide
 
 Bitcoin 
trading services to about 24 million total customers. Partnership is set to enable community banks and credit unions in the US to provide their customers with crypto trading services through mobile applications inbuilt by the payment provider (NRC).

Instead of having to deal with cumbersome regulatory requirements related to holding crypto assets for their clients, such financial institutions can opt to make crypto services available by simply relying on NYDIG’s custody services. By providing customers with a way of purchasing and spending Bitcoin within their existing accounts, the move put US banks and credit unions in direct competition with cryptocurrency exchanges.

Last month, Visa Corporation launched a crypto advisory service that aims to help banks and credit unions further their crypto strategies. AJ Shanley, vice president of crypto at Visa, commented about the development and stated: “A lot of banks are telling us they are watching deposits leave their institutions and going to crypto exchanges, and they’re asking if there is a potential role for banks to play.” The move by Visa comes at a time when PayPal, Block Inc (formerly Square), and other fintech firms aggressively use crypto coins to court new customers and as rival Mastercard recently launched its own cryptocurrency-related services.

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