LibertyX

LibertyX operates the largest onramp network in the United States to exchange cash for bitcoins. The company is headquartered in Boston, Massachusetts and was founded by Chris Yim and Kyle Powers. The company's platform uses cashiers as virtual ATMs and has 19 thousand local stores throughout the country. The founding date is 2014.

History

2021: NCR bought LibertyX

In early August 2021, NCR announced the purchase of LibertyX. The financial component of the transaction is not disclosed.

NCR said it made this acquisition in response to customer demand, namely transactions in cryptocurrencies, cross-border payments and the very support of cryptocurrency payments.

In addition to ATMs themselves, software from LibertyX also works at retail cash desks. The company's technology is used in 20 thousand retail stores and almost 10 thousand ATMs. With the help of the NCR brand, a cryptocurrency solution LibertyX will now be available in financial institutions, retail stores and restaurants.

NCR acquired LibertyX

Consumers will be able to make crypto payments in more outlets. NCR payment infrastructure can be found in large retail companies, including a large retailer. Although the companies do not disclose the financial terms of the transaction, they said that completion of the transaction is expected by the end of 2021.

Due to growing consumer demand, our customers need a comprehensive solution for digital currency, including the ability to buy and sell cryptocurrency, make cross-border money transfers and accept payments in digital currency through digital and physical channels. The decision to buy the LibertyX was unanimous due to the fact that this will accelerate our ability to quickly deliver all these opportunities and services to the market and allow us to expand our audience, "said Tim Vanderham, technical director of NCR Corporation.

Usually, when a merger is announced, the shares of the buying company are under pressure and subside a little. However, in the case of NCR and LibertyX, the buyer's shares actually increased by 1.5% during the trading session, which may be a sign of investor approval for the expansion into the cryptocurrency arena carried out by NCR.^[1]

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