US-based omni-channel solutions provider NCR has partnered with cryptocurrency exchange firm CoinHub to introduce bitcoin-enabled ATMs in the UAE.
The CxBanking software by NCR facilitates easy access to bitcoin funds for users and allows them to withdraw cash from their linked CoinHub cryptocurrency account at the ATM.
The process will be similar to conventional transactions, requiring authentication of user through ATM card scanning or cardless access with a mobile device, and selection of the type of account.
NCR Financial Services vice-president of professional services Panicos Demetriades said: “This locally conceptualised 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.
“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.”