National Cash Register (NCR) just inked a deal with New York Digital Investment Group (NYDIG), a digital asset management firm. It is hard to believe that a legendary company founded in 1884 would embrace digital assets. Although it just happened.
The National Cash Register is a significant player that supports 650 U.S. banks and credit unions with an estimated 24 million total customers. It offers self-service kiosks, ATMs, POS (point-of-sale) terminals, check processing systems, barcode scanners, software, and consulting services.
The National Cash Register is commonly seen as a very conservative company that does not employ many risky deals, so its current investment deal is unusual indeed.
The urgency for this movement? National Cash Register’s member banks were enduring big-time capital outflows. Many customers transferred their funds out of these credit unions and diminutive banks and onto exchanges such as Coinbase to acquire digital assets. That meant the National Cash Register and its vast number of customers were losing out on business.
Therefore NCR resolved the issue and struck the venture deal with New York Digital Investment Group to equip its clients with a means to purchase digital assets services worldwide. Also, helping retailers accept a wide variety of cryptocurrencies like Bitcoin as customers will eventually spend money directly from their accounts.
That being said, NCR is worth a look at as an investment stock. I encourage TradrSelecter readers to give a serious look and see if it will fit in your investment portfolio.