Coin Square and Just Cash to bring groundbreaking crypto software to traditional ATMs

Join our Telegram channel to get the latest news.

Canadian cryptocurrency trading platform Coinsquare has announced that they have acquired a controlling stake in fintech software company Just Cash. Although Coinsquare has acquired an eight-figure controlling stake in Just Cash, the fintech software development company will remain independent. However, the partnership will operate under the Coinsquare name and brand. By acquiring Just Cash, Coinsquare will be able to offer cryptocurrency trading at traditional non-bank ATMs in the United States. The software was developed by Just Cash to run on traditional ATMs without changing the hardware. Customers will be able to purchase Bitcoin using a debit card at the ATM.

According to Coinsquare CEO Cole Diamond, the software is already available on some ATMs. The process of introducing the software to ATMs will continue until the end of 2020. In the United States, there are more than 250,000 ATMs that could potentially use this software. Diamond said they are also working with one of the three largest ATM manufacturers in the United States, but he could not specify which ones. The three possible candidates could be Nautilus Hyosung, Triton, and Genmega.

Diamond commented that the lack of mainstream cryptocurrency adoption is caused by the fact that most people are scared about the process of acquiring cryptocurrencies. He also added that these ATMs will provide a bridge between the traditional banking system and the cryptocurrency industry. The cryptocurrency industry is working hard to achieve mainstream adoption, and these ATMs will be a step closer to achieving that goal. If traditional banks find it easier to incorporate cryptocurrencies into their business after successfully using this software, it will also push digital assets closer to mainstream use.

If Coinsquare succeeds in getting its software installed on two of the three largest manufacturers’ ATMs, by the time they complete the integration next year, it will be running on at least 170,000 ATMs. Diamond said they will outnumber bitcoin machines within a year. That would put Coinsquare ahead in the race to get as many people using cryptocurrency as possible.

ATMs equipped with the Just Cash software will offer a range of services for cryptocurrency traders. First, people will be able to buy and trade a variety of cryptocurrencies, including but not limited to Bitcoin, Bitcoin Cash, Ripple, Ethereum, Stellar, Dash, and Litecoin. This provides users with a wide range of currency options and makes these ATMs convenient. People can also easily buy cryptocurrencies through the ATM using a debit card for online cryptocurrency trading. Once the transaction is completed, people will receive a printed receipt showing their private and public keys, just like a traditional ATM transaction.