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. Software developed by Just Cash will allow the users to buy cryptocurrencies directly from the ATMs without disturbing the regular operations and installing any extra hardware & apps from both users and ATM ends. Just Cash with Coinsquare 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 exchange and trading platform allowing the users to trade with a wide range of cryptocurrencies. Just Cash, on another hand, is a leading and innovative software provider in the fintech space. Having 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 that 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 the user requires an extra mobile application to purchase cryptocurrency through the ATM. First of its kind successful transaction took a place during the regular software update. The simple update by Just Cash may push the cryptocurrencies to mainstream allowing the users to buy them in the safe, familiar and trusted manner of the ATM transactions.
“Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it,” says Cole Diamond, CEO of Coinsquare.
According to him, using the conventional ATMs will be the easiest way to bring the cryptocurrencies in mainstream uses as it gives new users the easiest and most familiar experience and convenience to experienced users to purchase cryptocurrency. Cryptocurrencies might be new to many but ATMs are not, he said sighting the easiness Just Cash’s updated ATMs will bring.
“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,” he added.
Todd Lawrence and Victor Cook 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 that “We’re excited to join forces with Coinsquare and work toward enabling millions of ATMs with our software.”