Coinsquare, Just Cash Partnership Enables Non-Bank ATM Crypto Transactions

Coinsquare, a Canadian cryptocurrency trading platform, announced it has bought an eight figure controlling stake in fintech software producer, Just Cash.

The acquisition will enable the firm to introduce crypto transactions on traditional, non-bank ATMs in the United States.

Just Cash developed a software to retrofit ATMs to sell cryptocurrencies via a customer's debit card, the first such market advancement, without having to upgrade the machine's hardware.

Coinsquare CEO Cole Diamond confirmed that the technology has already been introduced to some ATM machines, a process that will continue until the end of next year.

"We will outnumber the total number bitcoin ATMs within a year," Diamond said.

Users will be able to buy and transact with bitcoin, bitcoin cash, ether, dash, litecoin, stellar, ripple, doge, among others directly through their bank accounts.

Just Cash's software will "Piggyback on the regulatory efforts" Coinsquare has pulled through in anticipation of this market entry.

Diamond also said this feature will "Bridge the gap" between traditional banking and the crypto industry, though he does not expect to integrate the software with bank partners soon.

"One, we need to believe [banks] want to use it Banks have been hesitant to get involved" he said, adding bank ATMs require the development of additional software upgrades, as each entity runs proprietary software.

The merged firms will operate under the Coinsquare brand, though Just Cash will maintain a degree of autonomy.