Money machine implementations
According to recent reports, Coinsquare will be undergoing a system upgrade that will see millions of traditional ATMs support the purchase of Bitcoin and other cryptocurrencies.
The upgrade will give users access to virtual currencies through familiar systems and banks seem to also want to enter this new kind of transactional system.
The CEO of Coinsquare, Cole Diamond later stated that:
“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 easies and most familiar experience to purchase cryptocurrency.”
Traditional ATMs granting access to the cryptocurrency industry
By taking advantage of the number of traditional ATMs globally and the established trust associated with these machines, millions of users, both new and old will be able to get access to cryptocurrencies.
The Managing Partner and Co-founder of Just cash, Todd Lawrence also added that:
“Coinsquare is the largest cryptocurrency company in Canada, so it made sense to leverage each others expertise and work together to bring our solution to million of users around the world. We believe our software will be a natural extension of Coinsquare’s tremendous ecosystem.”
Coinsquare has been busy in the crypto industry for some time now. It’s crypto exchange platform launched eCAD crypto, which was the first stable coin backed by the Canadian dollar. Each eCAD is pegged to one Canadian dollar.
Canada’s premier cryptocurrency exchange is striving to bring cryptocurrencies to the masses while the city Vancouver is on the reservation list for future integration of Bitcoin ATMs.
However, the mayor of the city recently called for a ban on the machines as the local authorities see them as a tool for fraud and money laundering.