Korean ATM Builder Nautilus Hyosung Enables Bitcoin Transactions

Announcements, Now Accepting | November 20, 2017 By:

Korean ATM manufacturer Nautilus Hyosung has teamed up with mobile payment provider Just.Cash to enable bitcoin purchases on its machines.

Hyosung is a diversified company that offers several products, including tire cords, spandex, seatbelt yarns, and airbag fabric, as well as transformers, ATM units and PET bottles. The company, which has continuously invested in research and development in technology, has over 70 global operation centers organized under eight business centers.

Just.Cash works on existing ATM’s by enabling digital wallet providers and financial institutions to integrate their mobile apps with its system. Its partnership with Nautilus Hyosung will enable investors on bitcoin to transact the cryptocurrency using just regular ATMs.

The new Nautilus Hyosung ATMs, integrated with Just.Cash’s technology, will enable bitcoin transfers to the user’s existing wallet with a simple QR scan. The new ATMs print receipt with transaction details and cryptocurrency public and private keys. Natilus said additional cryptocurrencies can be added as popularity increases.

The bitcoin ATMs are using an Exchange Rate API that manages the information on bitcoin exchange rates from different crypto exchanges in real time. The transaction price will be dependent on the current bitcoin exchange rate. The company said an additional percentage fee is charged by the ATM for the service and factored into the price.

Other features that will be added in the coming months, including the ability to access cash using your mobile phone, and the ability to redeem cryptocurrency for cash and eliminate the need for a physical wallet and/or additional cards. The company will also enable customers to receive promotions and coupons before selecting an ATM and after a transaction is completed.