Canada’s Coinsquare Plans To Upgrade Millions of ATMs To Sell Bitcoin with Just Cash Investment
The announcement was made via a press release this week. In it, Coinsquare announced that it would partner with Just Cash, a controlling investment company based in the United States, in order to use the new software to allow the purchase of cryptocurrencies directly via ATM machines.
The most revolutionary aspect of the technology is that no additional hardware will be needed in order to do this, so new machines have to be created, which can keep the costs considerably lower.
Now, the Just Cash team, which received an undisclosed amount of cash, will join Coinsquare and will be integrated into the Canadian company, becoming a part of the Coinsquare brand.
Cole Diamond, the CEO of Coinsquare, affirmed in the press release that this new initiative reflects the current mission of the company. To him, it is important to bring mainstream adoption to ATMs that can sell crypto.
This, the team believes, would be important in order to take the crypto investment to the masses and finally turn this market into something that can really be considered mainstream.
The press release does not tell how many ATMs will be targeted by the initiative, but it is expected that millions of them can be upgraded to work with this new upgrade.
According to the CEO of the company, this will be very important in order to bridge the gap and be able to give the users an easier experience when acquiring and withdrawing their cryptos.
The co-founder of Just Cash, Todd Lawrence, affirmed that the company was excited to be a part of this new brand and that it made sense to leverage each other’s expertise in order to start new solutions that could help people in the country.
Not Everyone In Canada Likes Crypto ATMs
While the company is set to bring innovation to Canada, not everyone in the country is so eager to use them. For instance, the city of Vancouver is currently considering the ban of crypto ATMs. The main reason for that is because of the local government, which considers that there are several money laundering concerns.
At the moment, there are over 5,000 Bitcoin ATMs in Canada, a considerably large number. However, due to these regulatory concerns, nobody is actually sure about how the future is going to be.