NCR Atleos has announced the launch of a new LibertyX feature that will allow customers in the United States to receive cash for Bitcoin sales through their ATMs. Customers will use an app to pre-stage the transaction and select ATMs to pick up cash.
Exchanging Bitcoin for Cash at ATMs
App users will select the ATM they wish to use, send BTC for sale to an address provided by the app and use an access code at the ATM to receive US dollars for the sale of BTC. The new feature will be rolled out in more than 30 states initially.
Technical Details and Constraints
Participating ATMs must be equipped with Atleos' ReadyCode API. There is a $400 limit on cash withdrawals using the BTC sale access code, but sales can be made using multiple codes.
BTC ATM Market Development
LibertyX already enables BTC purchases at over 30,000 ATMs and announced plans to create a digital-to-physical bridge using its ATMs in 2020. NCR acquired LibertyX in 2021 and split into two units in 2022, handing over the ATM business to Atleos. BTC ATM installations can present challenges due to regulatory barriers, and currently, the number of BTC ATMs is declining.
The launch of the new feature by NCR Atleos could significantly simplify the process of exchanging Bitcoin for cash for US users, promoting wider cryptocurrency adoption.
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