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NCR to roll out bitcoin-enabled ATMs in the UAE

18 December 2017  |  12168 views  |  3 ATM

NCR has teamed up with UAE cryptocurrency exchange CoinHub to enable users to make cash withdrawals from their bitcoin accounts at the ATM.

NCR says the execution of the cryptocurrency transaction is as simple as any other at the cashpoint - 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 current or savings accounts, the user can opt to withdraw funds from their linked CoinHub cryptocurrency account.

Panicos Demetriades, vice president, professional services, NCR Financial Services, says: “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.”

Comments: (3)

A Finextra member
A Finextra member 20 December, 2017, 09:50 Is anybody spending Bitcoin? Particularly converting Bitcoin to FIAT Currencies? It will be interesting to see how many transactions are processed...
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A Finextra member
A Finextra member 20 December, 2017, 12:53

Anyone with half a brain should be - the bitcoin exchanges have been clear that in the event of a "rollercoaster crash" (which is coming) that they don't have the capacity to service all of the sell requests so keeping too much in bitcoin is bad news...

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Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 20 December, 2017, 18:19

I've seen complaints on LinkedIn that Zebpay, India's largest Bitcoin exchange, is dilly dallying with customers' requests to "cash out" i.e. convert BTC to INR (India's fiat currency).

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