NCR to Acquire Crypto Software Provider

The LibertyX deal gives the enterprise technology provider a digital currency solution for banks, retailers and restaurants.

August 04, 2021

Bitcoin

ATLANTA—NCR Corporation said it has agreed to acquire LibertyX, a cryptocurrency software provider for ATMs, kiosks and point-of-sale (POS) systems. Financial terms of the deal weren’t disclosed.

“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,” said Tim Vanderham, chief technology officer at NCR Corporation, in a press release. “The LibertyX solution will accelerate our ability to rapidly deliver these capabilities to the market.”

LibertyX partners with independent ATM operators like Cardtronics who own and manage ATMs in the U.S. at convenience stores, pharmacies and supermarkets. Moving forward, NCR will offer the LibertyX capabilities as part of its solutions for banks, retailers and restaurants. NCR’s digital wallet and mobile applications will provide these capabilities across NCR’s physical and digital touchpoints.

“NCR is an industry leader in banking, retail and hospitality, and has a tremendous customer base across our growth markets,” said Chris Yim, co-founder and CEO at LibertyX. “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.”

Cryptocurrency like Bitcoin has gained in popularity in recent months, with more businesses accepting the currency as payment. Last month, Circle K struck a deal with Bitcoin Depot to install cryptocurrency ATMs at thousands of location in Canada and the U.S.

Last month, when two congressional committees held hearings on the topic of digital currencies, including cryptocurrency, NACS urged lawmakers to prioritize innovation and competition as the new systems involved.

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