Coinsquare, Canada’s premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies, announced today that it has taken a controlling investment position in Just Cash, a leading and innovative software provider in the fintech space.
Just Cash’s revolutionary software enables any ATM to sell cryptocurrency (such as Bitcoin) to customers for the first time. The software allows customers to purchase cryptocurrency through the traditional ATM process without disrupting the ATM network.
This first-of-its-kind transaction is accomplished by a routine software update to the ATM. There are no requirements for new hardware, additional capital investments by the ATM operator, or a mobile application by the user to purchase cryptocurrency through the ATM. The simplicity of the update reduces friction for all parties and allows users to buy cryptocurrency through the safe, familiar, and trusted process of an ATM transaction.
“Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it,” says Cole Diamond, CEO of Coinsquare. “By using the millions of existing ATMs around the world, we can now bridge the gap and give new users the easiest and most familiar experience to purchase cryptocurrency. Bitcoin is new and unfamiliar to many, but ATMs are not. By tapping into the existing global ATM network, cryptocurrency can finally reach the masses. We are bringing that familiar and trusted process into the cryptocurrency world, and vice versa, for the first time.”
Just Cash, which was co-founded by Todd Lawrence and Victor Cook, will operate under the Coinsquare brand.
“We’re excited to join forces with Coinsquare and work toward enabling millions of ATMs with our software”, says Todd Lawrence, Managing Partner of Just Cash. “Coinsquare is the largest cryptocurrency company in Canada, so it made sense to leverage each other’s expertise and work together to bring our solution to millions of users around the world. We believe our software will be a natural extension of Coinsquare’s tremendous ecosystem.”
Release originally published on Business Wire.