Cole Diamond

Canadian cryptocurrency trading platform for trading Bitcoin, Ethereum, XRP, and other digital currencies Coinsquare has recently announced its investment in Just cash, a software provider in the fintech space.

Coinsquare’s major control in the crypto payments company will enable the latter to it make it possible enable the purchase of crypto from regular ATMs, with this acquisition Coinsquare is looking to gain an edge over existing Bitcoin ATMs, which only offer cryptocurrency services. Since the technology developed by Just Cash does not require any hardware modifications to an ATM machine, ATM operators will not have to make any capital investments to offer crypto through their machines.

Coinsquare CEO – Cole Diamond commented on the deal, “Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it. 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.”

Users can make purchase crypto by inserting their debit card into a Just Cash-powered ATM, customers have the choice to purchase what kind of cryptocurrency they want to. The ATM then prints a private key and a Bitcoin address to access the purchased BTC. Coinsquare has a sponsor bank for the project, although the company hasn’t disclosed which bank it has partnered with. It has been reported that the deal between Coinsquare and Just cash is worth to be an eight-figure amount.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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