Today NCR Atleos said it is launching the LibertyX Bitcoin Cashout feature enabling LibertyX customers who sell bitcoin to collect cash at ATMs. According to NCR that means 75% of Americans have a transaction point within five miles. Or they will once the offering is fully rolled out. NCR bought LibertyX in 2021.
The ATM firm plans to start the rollout in 30 states. It will only be available at ATMs that are ‘ReadyCode’ connected, where ReadyCode is a special API.
“One of the remaining barriers to greater bitcoin adoption by consumers has been the ability to move easily and effortlessly from bitcoin to cash without waiting days for transfers facilitated by ACH or dealing with the complexity of wire transfers,” said LibertyX General Manager, Chris Yim.
“With LibertyX Bitcoin Cashout, LibertyX app users can pre-stage digital to physical transactions from the convenience and privacy of their phone and pick up their funds on their schedule in locations that work for them.”
At the time of the acquisition, we noted that the transaction could have a major impact.
We wrote:
“Let’s put the NCR acquisition in context. According to RBR, NCR has a 16% global market share of Point of Sale (PoS) software. In other words, if you buy any physical goods anywhere in the world, there’s a reasonable chance that the machine used at checkout is from NCR. Do you use a self-checkout unit at your local supermarket? NCR is a big player there too with a 31% market share of North American grocery stores. Now consider that machine might now support cryptocurrency.”
“But it doesn’t end there. NCR isn’t just a major PoS provider. It’s also the global market leader in ATMs with a 25% market share in 2020 according to RBR.”
