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Coinsquare, a leading Canadian crypto exchange, has recently acquired a controlling stake in fintech software developer company Just Cash. Coinsquare may expand its services with this investment. The amount of investment isn’t disclosed yet.
The software developed by Just Cash will allow the users to buy cryptocurrencies directly from ATMs (any regular ATM) without disturbing their normal operations and without the necessity of installing any extra hardware and apps from either the user or the ATM operator end. This collaboration of Coinsquare with Just Cash will enable millions of ATMs around the world to accept cryptocurrency transactions via debit card for the first time.
Coinsquare is one of the largest Canadian crypto exchanges and trading platforms, allowing users to trade a wide range of cryptocurrencies. Just Cash, on the other hand, is a leading and innovative software provider in the fintech space. With a controlling stake in just Cash, Coinsquare is planning to move further to achieve its goal of becoming a multi-faceted financial services company anchored in blockchain technology.
Just Cash’s revolutionary software is first of its kind – it enables any ATM to sell cryptocurrency to customers without interrupting the traditional ATM processes and the ATM network. Moreover, the ATM doesn’t require any additional hardware installation nor is the user required an extra mobile application to purchase cryptocurrency through the ATM.
Simple Software Update to Transform a Regular ATM into a Crypto ATM
What is even more impressive and exciting is the fact that all it takes to transform regular ATMs to crypto ATMs is just a simple software update. This simple update by Just Cash may push cryptocurrencies to the mainstream, allowing the users to buy them in the safe, familiar and trusted manner of a traditional ATM transaction.
Cole Diamond, CEO of Coinsquare, said:
“Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it.”
According to Diamond, using conventional ATMs will be the easiest way to set cryptocurrencies for mainstream uses as it gives clients the easiest and most familiar experience to purchase cryptocurrency. While cryptocurrencies might be completely new to many, ATMs are not, he said relating to the ease Just Cash’s software updates ATMs will bring.
Diamond also added:
“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”
Todd Lawrence and Victor Cook, who founded Just Cash, will now operate under Coinsquare. Expressing the excitement to be a part of Canada’s largest crypto exchange and trading platform, Todd said, “We’re excited to join forces with Coinsquare and work toward enabling millions of ATMs with our software.”