Tag: Atm

NCR Corporation Announces Details of Upcoming Separation

by Blockchain News

NCR Corporation (NYSE: NCR) has disclosed further details concerning its previously announced separation of its ATM-focused businesses, including Self-Service Banking, Payments & Network, and Telecommunications and Technology sectors. The separation will involve the distribution of all common stock of NCR Atleos Corporation (formerly NCR Atleos, LLC) held by NCR Corporation to its common stockholders.

Key Dates and Details

Record Date: October 2, 2023

Distribution Date: October 16, 2023, 5:00 p.m. local New York City time

Trading Details: NCR Atleos is set to commence “regular-way” trading on the NYSE under the ticker “NATL” on October 17, 2023. Post-separation, NCR Corporation’s ticker symbol will transition to “VYX.”

The Board of Directors has approved a pro rata distribution, where each holder of NCR Corporation common stock will receive one Atleos common stock share for every two shares of NCR Corporation common stock held as of the close of business on the record date. This distribution is anticipated to be tax-free for U.S. federal income tax purposes, contingent upon certain conditions outlined in the Form 10 and the related Information Statement from August 14, 2023.

Following the distribution, Atleos will operate as an independent, publicly-traded entity on the NYSE. NCR Corporation will undergo a renaming to NCR Voyix Corporation (“Voyix”) and will retain no ownership stake in Atleos.

Michael D. Hayford, CEO of NCR Corporation, remarked, “Today’s announcement marks a major milestone in the completion of the separation of Atleos from NCR.” He emphasized the company’s longstanding history of innovation and expressed confidence in both Voyix and Atleos’ future prospects.

Tim Oliver, Atleos’ CEO-designate, and David Wilkinson, Voyix’s CEO-designate, also shared their enthusiasm for the upcoming changes, highlighting the dedication of their respective teams and the promising future for both entities.

Additional Information

No physical share certificates of Atleos will be issued; the distribution will be in book entry form.

The distribution is subject to certain conditions, including the availability of debt financing on acceptable terms.

The distribution is intended to be tax-free for U.S. federal income tax purposes. Stockholders are advised to consult their tax advisors regarding the tax implications.

About NCR Corporation

NCR Corporation, headquartered in Atlanta, Georgia, is a pioneering force in the development of technology platforms for self-directed banking, stores, and restaurants. With a global workforce of 35,000, NCR Corporation has established its trademark in the United States and several other countrie

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The United Kingdom’s Financial Conduct Authority is cracking down on unregistered cryptocurrency

by Blockchain News

The Financial Conduct Authority (FCA), which is in charge of regulating the financial sector in the United Kingdom, is planning to go after unregistered bitcoin automated teller machines (ATMs).

The Financial Conduct Authority (FCA) and the cyber unit of the West Yorkshire Police have taken action against a number of locations in and around the city of Leeds that are suspected of hosting illegally operating cryptocurrency ATMs.

When the news was announced on February 14, the Financial Conduct Authority (FCA) noted that there are no crypto ATM operators in the United Kingdom currency who are registered with the FCA. All cryptocurrency exchange providers, including operators of cryptocurrency ATMs, are required to be registered with the Financial Conduct Authority (FCA) and adhere to the money laundering legislation of the United Kingdom, according to the authority.

Mark Steward, executive director of enforcement for the FCA, was quoted as saying that unregistered cryptocurrency ATMs that operate in the United Kingdom are engaging in illegal activity. Steward also stated that the FCA will continue to disrupt unregistered cryptocurrency businesses in the country. The executive said that crypto goods are “currently unregulated and high-risk,” advising clients to be ready to lose all of their money if they invest in cryptocurrency.

According to the statements of police detective sergeant Lindsey Brants, local enforcement officials have sent multiple warning letters to operators of cryptocurrency ATMs, urging that they stop utilizing the machines immediately. He continued by saying that any violation of the restrictions will result in an inquiry under the money-laundering regulations.

According to the findings of Coin ATM Radar, there are at least 28 different sites in the United Kingdom that provide Bitcoin (BTC) ATMs. This means that the action that the FCA plans to take against cryptocurrency ATMs is likely to have a significant impact on the number of ATM operators. According to the statistics, more than half of these cryptocurrency ATM locations can be found in the city of London, with additional sites close to the cities of Birmingham, Manchester, and Nottingham.

This is not the first time that the Financial Conduct Authority has taken action against cryptocurrency ATMs in the United Kingdom. The same body published a similar declaration on the termination of Bitcoin ATMs in the country in March 2022, calling on ATM operators to “close down or face further action.” The announcement related to the discontinuation of Bitcoin ATMs in the country.

At the time of this writing, the Financial Conduct Authority (FCA) in the United Kingdom has granted registration to a total of 41 cryptocurrency businesses. These organizations include platforms like as Gemini, Zodia Custody, Bitpanda, and Revolut, amongst others.

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Poundtoken and BitcoinPoint will make the country’s first 100% backed GBP stablecoin

by Blockchain News

Because to a cooperation between Poundtoken and BitcoinPoint, the first 100% backed GBP stablecoin in the nation, denoted by the symbol $GBPT, will be available to retail customers via a network of 18,000 ATMs spread out throughout the United Kingdom. The action is in line with the government’s aim to utilise stablecoins for wholesale settlements and is another step toward the United Kingdom becoming a “crypto center.”

Bitcoin Point is a Bitcoin (BTC) and cryptocurrency exchange that is regulated and registered in the United Kingdom. Bitcoin Point supports the Lightning Network. The only company authorised to distribute the GBPT ($GBPT) stablecoin is Poundtoken. Poundtoken asserts that their stablecoin, GBPT, is completely backed in pound sterling at all times, and that auditor KPMG provides monthly attestations to support this claim.

Tokens like as Bitcoin and Ether (also known as ETH) may already be exchanged for fiat currency through automated teller machines (ATMs) located all across the United Kingdom. The inclusion of GBPT on the BitcoinPoint platform, on the other hand, means that users may now make retail and wholesale payments using the GBP stablecoin, and utilise a currency that is already known to Brits as an entry point into the cryptocurrency market.

The economy of the United Kingdom is the second biggest in all of Europe. Its government is currently recruiting for senior roles in Central Bank Digital Currencies (CBDCs), in addition to a rollout of a digital pound, and Prime Minister Rish Sunak has been vocal in his support for Digital Settlement Assets, the new and preferred terminology for cryptocurrency.

“Bringing blockchain technology and cryptocurrencies to the United Kingdom and easing their integration into the country’s economy are two of GBPT’s primary goals.”. It is high time that the United Kingdom began to live up to its potential as a global leader in cryptography.

The alliance is working to standardise the usage of stablecoins in the day-to-day operations of financial institutions and businesses. Marzouk provided an explanation, “At Bitcoin Point, we are Bitcoin enthusiasts, and we think there is a lot of potential value in stablecoin projects–it just makes perfect sense.

Stablecoin adoption has grown over the globe, from inflation-ridden Argentina to European financial centre Switzerland. However, the wounds of the Terra (LUNA) algorithmic stablecoin catastrophe are still raw for the crypto sector, causing some jurisdictions, like as Hong Kong, to restrict usage outright.

Scoring methods from established finance risk assessors such as Moody’s may offer legitimacy to the emerging stablecoin ecosystem while initiatives by Bitcoin-advocate organisations such as the Bitcoin Policy Institute may pave the road towards a crypto and stablecoin-based future.

“We envisage Bitcoiners opting out from the banking system and becoming bitcoin exclusively; you might also have folks who don’t want to have a bank account and may thus use GBPT. So when they need cash they may offramp into GBPT to acquire cash.”

The change could make it possible for an increasing number of crypto fans to join without the assistance of a bank. The connection is currently active across all 18,000 automated teller machines in the United Kingdom.

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Australia Breaks Into Top 3 Nations for Crypto ATM

by Blockchain News

In spite of the bear market and the record-low dynamics of new Bitcoin ATM installations throughout the globe, Australia has broken into the top three countries internationally in terms of the number of cryptocurrency ATMs.

It wasn’t until the first few days of January that the Australians moved up to the fourth slot; since then, they’ve added another 16 computers to their network. According to the data provided by Coinatmradar, Australia now has 234 crypto ATMs, which places her in third place internationally behind the United States and Canada in terms of the number of available machines.

In three weeks it outpaced Spain, which possessed 222 crypto ATMs.

It’s all about dynamics: Australia installed 99 cryptocurrency ATMs in only the final three months of 2022, which is over half of the country’s entire number of machines.

Since the beginning of the year, Australia has added 16 new ATMs, while Spain has actually lost 4, and El Salvador, which occupies the fifth rank globally, has not registered a single new ATM. Australia leads the world in this category.

In general, the number of cryptocurrency ATMs in Australia, Spain, and El Salvador combined could not come close to matching the large number of ATMs in the United States. The United States of America is home to 33,387 machines, which accounts for 86.9% of all machines in the world.

Together with Canada (2.556) at the time of writing, they possess a remarkable 94.4% of all the crypto ATMs.

A bear market that lasted all of 2022, coupled with heightened geopolitical tensions and inflation on a global scale, led to a significant reduction in the number of cryptocurrency ATMs being installed.

Comparatively, only 94 Bitcoin ATMs were added to the global network between July and the end of 2022. This is in contrast to the 4,169 Bitcoin ATMs that were present during the first half of 2022.

The first Bitcoin ATM with integrated Lightning Network capabilities was installed in the city of Coolangatta, which is located in Australia, in the month of January 2023.

It functions in a manner that is analogous to that of conventional cryptocurrency ATMs, but the layer-2 Lightning solution allows for significant time savings.

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Bitcoin ATMs Installation Growth Dropped Sharply in September

by Blockchain News

The number of Bitcoin Automated Teller Machines (ATMs) installed globally is currently being affected by the current state of the crypto economy. 

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The number of ATMs that have been installed dropped from 38,776 in August to 37,980 ATMs in September according to data gotten from CoinATMRadar. 796 ATMs were removed from the global network which resulted in a drop of -2.05%. 

 

The sudden drop in Bitcoin ATMs installations can be attributed to a variety of factors, including uncertainties in markets and tensions from different geopolitical regions.

 

Bitcoin ATMs allow a person to buy Bitcoin and other cryptocurrencies with cash or a debit card. Some Bitcoin ATMs offer a two-way feature that allows you to both buy Bitcoin and sell Bitcoin for cash. 

 

In some cases, Bitcoin ATM providers require users to have an existing account to make transactions on the machine. Bitcoin ATMs are one of the most visible benchmarks for measuring the growth of the digital currency ecosystem.

 

Bitcoin ATMs Installed in Different Regions

 

The data gotten from CoinATMRadar showed that as of May 18, 2020, there were 7,856 crypto ATMs in 72 countries and 5,888 locations in the United States alone, with 736 concentrated in the Los Angeles area and 946 present in Washington, DC. This amount is inclusive of other coins like Bitcoin Cash(BCH). Ethereum(ETH), Litecoin(LTC), and Dash (DASH).

 

Bitcoin ATMs were also introduced in the East and South of London with about 15 ATMs distributed across this region. Transactions have been constantly simplified through the  ATM network of at least 150 machines across London.

 

The citizens of South Korea can now withdraw BCH, especially in areas that have not yet integrated peer-to-peer electronic cash payments with more than 13,000 ATMs present in South Korea as a result of the partnership between Bitcoin.com and Mecon Cash.

 

Despite the setback in market structure, data from 60 Days shows that almost 14 crypto ATMs are being installed worldwide per day, and Genesis Coin accounts for a 40.3% share of ATMs among other manufacturers.

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Crypto ATM Market Expected to Hit $1.18B by 2028, Driven by Increasing Fund Transfers

by Blockchain News

A surge in fund transfers is expected to expedite the global crypto ATM market to hit $1.185 billion by 2028, according to Vantage Market Research, a company providing B2B research services.

The study expects the crypto ATM market to record a compound annual growth rate (CAGR) of 58.7% during the forecast period. This market was worth $74.2 million in 2021.

Per the report:

“The increasing fund transfers specifically in emerging economies are expected to fuel the growth of the crypto ATM market during the forecast period.”

According to the World Bank, remittances to low-and middle-income nations were projected to surge by 7.3% in 2021.

Remittances offer a crucial lifeline when it comes to spending on vital items like education, health, and food, especially given that economic hardship has increased.

Therefore, escalating fund transfers, especially in emerging economies, are considered a stepping stone towards more growth in the crypto ATM market. Per the study:

“Crypto ATMs are now seen installed in most of the countries across the globe as businesses are putting a strong emphasis on meeting the changing needs of their customers.”

The dominance of North America in this sector is expected to continue soaring based on the presence of key market players like Coin Flip, Bitcoin Depot, and Coin Cloud and the rollout of crypto ATMs in public areas. 

Other prominent players in this industry include Covault, Cryptomat, Coin ATM Radar, Coin source, Bitaccess Inc., Orderbob, and Coin me.

In August 2021, Atlanta-based leading enterprise technology provider NCR Corporation announced the acquisition of crypto ATM provider LibertyX.

The acquisition intended to integrate the LibertyX mobile application so that NCR Corporation customers such as banks, retailers, and restaurants would be able to pay, purchase or withdraw cryptocurrencies directly from its Bitcoin (BTC) ATM network. 

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Crypto ATM Market Expected to Hit $1.18 Billion by 2028, Driven by Increasing Fund Transfers

by Blockchain News

A surge in fund transfers is expected to expedite the global crypto ATM market to hit $1.185 billion by 2028, according to Vantage Market Research, a company providing B2B research services.

The study expects the crypto ATM market to record a compound annual growth rate (CAGR) of 58.7% during the forecast period. This market was worth $74.2 million in 2021.

Per the report:

“The increasing fund transfers specifically in emerging economies are expected to fuel the growth of the crypto ATM market during the forecast period.”

According to the World Bank, remittances to low-and middle-income nations were projected to surge by 7.3% in 2021.

Remittances offer a crucial lifeline when it comes to spending on vital items like education, health, and food, especially given that economic hardship has increased.

Therefore, escalating fund transfers, especially in emerging economies, are considered a stepping stone towards more growth in the crypto ATM market. Per the study:

“Crypto ATMs are now seen installed in most of the countries across the globe as businesses are putting a strong emphasis on meeting the changing needs of their customers.”

The dominance of North America in this sector is expected to continue soaring based on the presence of key market players like Coin Flip, Bitcoin Depot, and Coin Cloud and the rollout of crypto ATMs in public areas. 

Other prominent players in this industry include Covault, Cryptomat, Coin ATM Radar, Coin source, Bitaccess Inc., Orderbob, and Coin me.

In August 2021, Atlanta-based leading enterprise technology provider NCR Corporation announced the acquisition of crypto ATM provider LibertyX.

The acquisition intended to integrate the LibertyX mobile application so that NCR Corporation customers such as banks, retailers, and restaurants would be able to pay, purchase or withdraw cryptocurrencies directly from its Bitcoin (BTC) ATM network. 

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Singapore Shuts down all Crypto ATMs Operation, following Crypto Public Ads Prohibition Imposed

by Blockchain News

All cryptocurrency ATMs in Singapore have been shut down by the Monetary Authority of Singapore, following the city-state’s prohibition of all crypto-related advertisements in public spaces.

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“To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS,” said Daenerys & Co, the biggest Singaporean crypto ATM operator.

Deodi Pte also announced the shutdown of its ATM in adherence to the new guideline.

The move by the MAS to ban crypto ads in public space for all crypto service providers was hinged on the fact that many of the ads can downplay the risks inherent in investing in the digital currency ecosystem, Blockchain.News reported. 

The advice was contained in the newly published “Guideline on the Provision of Digital Payment Token Services to the Public” that was directed to both the licensed crypto service providers as well as those in the transitional period, the report added.

In the guideline issued by the MAS, the central bank said it had “observed that some DPT (digital payment token) service providers have been actively promoting their services through online and physical advertisements or through the provision of physical automated teller machines (ATM) in public areas.”

The move is part of a broader effort by the Singaporean watchdog to regulate advertising cryptocurrency to the public.

Prior to Singapore’s crackdown on cryptocurrency advertising, Spain and the United Kingdom have also issued similar limitations.

While the Spanish government made it mandatory for crypto businesses to provide ad campaigns for regulatory approval ten days in advance, the UK launched a review of cryptocurrency advertising norms, vowing to crack down on products with deceptive claims.

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Singapore Shuts down all Crypto ATMs Operation, after Crypto Public Ads Prohibition Imposed

by Blockchain News

All cryptocurrency ATMs in Singapore have been shut down by the Monetary Authority of Singapore, following the city-state’s prohibition of all crypto-related advertisements in public spaces.

Webp.net-resizeimage - 2022-01-20T110459.822.jpg

“To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS,” said Daenerys & Co, the biggest Singaporean crypto ATM operator.

Deodi Pte also announced the shutdown of its ATM in adherence to the new guideline.

The move by the MAS to ban crypto ads in public space for all crypto service providers was hinged on the fact that many of the ads can downplay the risks inherent in investing in the digital currency ecosystem, Blockchain.News reported. 

The advice was contained in the newly published “Guideline on the Provision of Digital Payment Token Services to the Public” that was directed to both the licensed crypto service providers as well as those in the transitional period, the report added.

In the guideline issued by the MAS, the central bank said it had “observed that some DPT (digital payment token) service providers have been actively promoting their services through online and physical advertisements or through the provision of physical automated teller machines (ATM) in public areas.”

The move is part of a broader effort by the Singaporean watchdog to regulate advertising cryptocurrency to the public.

Prior to Singapore’s crackdown on cryptocurrency advertising, Spain and the United Kingdom have also issued similar limitations.

While the Spanish government made it mandatory for crypto businesses to provide ad campaigns for regulatory approval ten days in advance, the UK launched a review of cryptocurrency advertising norms, vowing to crack down on products with deceptive claims.

Image source: Shutterstock

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Singapore crypto ATMs shut down after central bank crackdown

by Cointelegraph

The Monetary Authority of Singapore has reportedly decided to shut down cryptocurrency automatic teller machines in the city-state.

According to Bloomberg, to comply with new regulations issued by the Monetary Authority of Singapore (MAS), Singapore’s central bank, cryptocurrency ATM operators in the country were forced to shut down their operations on Tuesday.

The new clampdown on cryptocurrency ATMs sparked several reactions from the city’s cryptocurrency operators, with Daenerys & Co saying it was “surprised” and canceled its ATM service on Tuesday evening. Their main competitor, Deodi, switched off its ATM network and sent staff to remove its crypto ATMs.

The move is part of a broader effort by the Singaporean watchdog to regulate advertising cryptocurrency to the public. On Monday, the central bank released new central bank guidance that bans crypto firms from advertising their services in public places, websites and social networks.

Singapore’s souring on crypto, however, is more of a surprise. Coincub, a fintech start-up based in the city-state, named Singapore the most crypto-friendly country in the world in December, owing to the city’s “good legislative environment” and “high rate of cryptocurrency adoption.” However, the legislative climate in the city-state appears to be cloudier right now.

Related: UK advertiser ASA continues crypto ad banning spree

Cointelegraph reached out to the MAS for more information but did not receive a response as of publishing time. This article will be updated if new details emerge.

The clampdown in Singapore came soon after similar advertising limitations were enacted in Spain and the United Kingdom. On Monday, the Spanish government required crypto businesses to submit ad campaigns for regulatory approval 10 days in advance., while the U.K. launched a review of cryptocurrency advertising norms, vowing to crack down on products with deceptive claims.