Libertyx

LibertyX
Founded Boston, Massachusetts, United States (2013)
Founder Chris Yim
Kyle Powers
Headquarters Boston, Massachusetts, United States
Number of locations
 19,000 local stores (2016)
Area served
 38 U.S. states and territories
Products Bitcoin exchange
Website Official website

LibertyX operates the largest cash-to-bitcoin onramp network in the US. The company is headquartered in Boston, Massachusetts and was founded by Chris Yim and Kyle Powers.[1] The company platform uses cashiers as "virtual" automatic teller machines and has 19,000+ local stores nationwide where customers can go and use cash to instantly purchase digital currencies.

History

Liberty Teller was founded in 2014 and was part of the 2014 MassChallenge accelerator program.[2] The company's founders met while pursuing their MBA degrees at the Wharton School at the University of Pennsylvania before taking a leave of absence.

In February 2014 the company launched America's first bitcoin ATMs[3] in Boston's South Station, one of the nation's busiest train stations. The company soon expanded and added additional ATM locations including MIT[4] and Harvard Square.[5]

In December 2014, the company announced its retail store expansion allowing consumers to purchase bitcoin in-person at over 2,500 stores nationwide.[6] In March 2015, the company sold its bitcoin ATMs to CoinOutlet[7] and rebranded as LibertyX to focus on its cashier-as-ATM store-based model.[8] Throughout 2015, the company formed additional partnerships with retail store networks increasing their domestic footprint to over 13,000 local stores.[9]

Products and partnerships

LibertyX is not a wallet so users have to provide and user their own bitcoin wallet. The company is partnered with bitcoin exchange and financial service providers such as Uphold[10] to provide a suite of services for the cash-preferred customer. The company has a cash API for partners to build and develop applications to access the cash-preferred customer. LibertyX has raised seed funding from Project 11.[11]

References

This article is issued from Wikipedia - version of the 11/22/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.