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

The software upgrade can potentially be introduced to approximately 170,000 machines across America.

AccessTimeIconJul 3, 2019 at 7:30 p.m. UTC
Updated Sep 13, 2021 at 9:23 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now


, 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 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.

There are approximately 250,000 non-bank ATMs that can potentially be upgraded with this feature. By partnering with two of the three major producers of non-bank automated teller machines – Nautilus Hyosung, Triton, and Genmega, though he was unable to disclose which ones – Diamond said Coinsquare expects to integrate with approximately 170 thousand machines across nearly all 50 states.

“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.

The machine will then offer a printed receipt that shows the user’s private and public keys, “effectively your paper wallet,” Diamond said.

The company’s roadmap includes a full US expansion in 2020, with the ATMs serving as an entry point. Just Cash’s software will “piggyback on the regulatory efforts” Coinsquare has pulled through in anticipation of this market entry.

Diamond hopes the ATMs serve as an efficient on-ramp to the crypto-uninitiated.

“Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it,” he said in a statement.

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 [in anything crypto,]” 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.

ATM photo via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.