NCR First in the UAE to Introduce Bitcoin-Enabled ATMs

NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, announced on the 18^th of December that it has teamed-up with CoinHub, a cryptocurrency exchange in the UAE, to enable users to make cash withdrawals from their cryptocurrency account at the ATM. NCR’s CxBanking software will provide users in the UAE easy access to their bitcoin funds.

“This locally conceptualized solution is yet another example of how NCR, a dominant ATM and payments player in the UAE, is investing in innovation to make every user’s interaction with their bank exceptional,” said Panicos Demetriades, Vice President, Professional Services, NCR Financial Services. “When we first showcased this solution to mark the 50th anniversary of the ATM last year, the positive feedback from our leading financial institution customers in the UAE helped guide our decision to bring this to market.”

The execution of the cryptocurrency transaction is as simple as any other transaction at the ATM – a withdrawal begins with authenticating the user either by scanning a standard ATM card or via cardless access with a mobile device. Similar to the selection of checking or savings accounts, the user can opt to withdraw funds from their linked CoinHub cryptocurrency account.