NCR Corporation To Acquire Bitcoin ATM Operator LibertyX

What Happened: Leading enterprise technology provider NCR Corporation NCR plans to acquire cryptocurrency ATM operator LibertyX.

In an announcement on Monday, NCR said it plans to offer digital currency solutions for banks, retailers, and restaurants after the acquisition. The companies did not disclose the financial terms of the transaction, which is expected to close later this year.

The number of crypto ATMs installed in the U.S. grew exponentially over the past two years.

According to data from Coin ATM Radar, there were 21,237 crypto ATM installations in the country at the time of writing.

LibertyX currently services 20,000 retail stores within the U.S., along with 9,500 cryptocurrency ATMs.

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

The move to include a suite of crypto solutions for enterprises comes on the back of 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,” noted Vanderham.

Earlier this year, NCR announced a partnership with digital asset custodian NYDIG, which would potentially allow 650 U.S. banks to offer their clients the option of crypto purchases.

Price Action: At press time, Bitcoin BTC/USD was trading at $38,426 after losing 2.14% over the past 24-hours.