Technology/Services

NCR Purchases Crypto Software Firm

Deal expected to closer later this year
convenience store cryptocurrency
Photograph: Shutterstock

ATLANTA — NCR Corp., an enterprise technology provider, is diving into cryptocurrency through a definitive agreement to acquire LibertyX, a crypto software provider.

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

The LibertyX digital currency solution runs on ATMs, kiosks and point-of-sale (POS) systems. LibertyX partners with independent ATM operators such as Cardtronics, which owns and manages ATMs in the United States at convenience stores and other retail locations.

Moving forward, NCR will offer the LibertyX capabilities as part of its offer for retailers, banks and restaurants. NCR’s digital wallet and mobile applications will provide these capabilities across NCR’s physical and digital touchpoints.

“We look forward to offering NCR’s customers the ability to quickly and easily offer the digital payments and cryptocurrency capabilities consumers want, while significantly expanding the scope, scale and reach of our software,” said Chris Yim, co-founder and CEO, LibertyX.

The companies did not disclose the financial terms of the transaction. They expect the transaction to close later this year. subject to customary closing conditions, including obtaining certain regulatory licensing consents and approvals.

Atlanta-based NCR is a software- and services-led enterprise provider in the financial, retail and hospitality industries.

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