Crypto Exchange Coinsquare Obtains Controlling Stake In Just Cash

Investing, News | July 5, 2019 By:

Coinsquare, Canada’s largest crypto trading platform, has taken a controlling investment position in FinTech software provider Just Cash.

Just Cash develops a mobile banking application that helps digital wallet customers to get card less access to ATM networks. The company connects mobile application to ATMs, which enables users’ access cash at an ATM without a card, and transfer cash to family and friends worldwide. It has also developed a software that enables any ATM to sell cryptocurrencies to customers, without the need for new hardware, additional capital investments by the ATM operator, or a mobile application by the user to purchase cryptocurrency through the ATM.

Coinsquare, which invested “eight figures” in the deal, said that Just Cash’s crypto feature will allow them to bridge the gap and give new users the easiest and most familiar experience to purchase cryptocurrency.

“Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it,” said Cole Diamond, CEO of Coinsquare. “Bitcoin is new and unfamiliar to many, but ATMs are not. By tapping into the existing global ATM network, cryptocurrency can finally reach the masses. We are bringing that familiar and trusted process into the cryptocurrency world, and vice versa, for the first time.”

Under the deal, Just Cash will continue to operate independently under the Coinsquare brand.

“We’re excited to join forces with Coinsquare and work toward enabling millions of ATMs with our software”, said Todd Lawrence, Managing Partner of Just Cash. “Coinsquare is the largest cryptocurrency company in Canada, so it made sense to leverage each other’s expertise and work together to bring our solution to millions of users around the world. We believe our software will be a natural extension of Coinsquare’s tremendous ecosystem.”