NCR, CoinHub to introduce bitcoin-enabled ATMs in UAE
US cash machine company NCR is partnering with cryptocurrency exchange CoinHub to allow customers in the UAE to make cash withdrawals from their bitcoin accounts. The technology was demonstrated by NCR last year to mark the 50th anniversary of the ATM, and the positive reaction persuaded them to introduce it commercially. Customers will make the transactions in the usual way, authenticating themselves either using their card or mobile device and opting to withdraw from their linked CoinHub cryptocurrency account.

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.”

