Leading U.S.-based commercial bank, Blue Ridge Bank has recently revealed its plans to provide its clients with the opportunity to conduct bitcoin transactions using its ATM services and branches.
According to a Wednesday report, the bank will now allow cardholders to purchase bitcoin with their credit and debit cards and enable them to withdraw their bitcoin funds in about 19 different Blue Ridge Bank ATM locations, including both off-site ATMs and bank branches.
Blue Ridge Bank, a wholly-owned banking subsidiary of Blue Ridge Bankshares, Inc., provides several financial services, including card payments, insurance payments, and more, to a wide range of clients scattered across Virginia and North Carolina.
Speaking on the latest move by the financial services provider, the CEO of Blue Ridge Bankshares Inc., Brain K. Plum said, ” Blue Ridge Bank is excited to continue its evolution to serve the growing needs of our current and future customers. The ATMs remain able to serve cash-based and inquiry activity, so this is simply layering on more services and reinforces our commitment to the future of banking for all customers.”
Blue Ridge Bank will be the first commercial bank in the U.S. to avail its branch locations and other platforms for bitcoin transactions.
The bank has already partnered with one of the largest privately-held ATM management companies in the U.S., BluePoint ATM Solutions, and the leading U.S. bitcoin ATM software provider, LibertyX, to complete the project.
Via this partnership, Blue Ridge Bank will be able to provide millions of customers with ATM services that support bitcoin transactions.
The CEOs of both LibertyX and BluePoint ATM Solutions expressed their excitement and optimism regarding the project, adding that this move will prompt other financial services providers to follow suit.
Chris Yim, the CEO of LibertyX said, ” We’re honored to work with Blue Ridge Bank and BluePoint. For years, consumers have been asking for the ability to buy bitcoin from their banks. LibertyX provides consumers with the trust and ease of going to 8,500 ATMs at local convenience stores, pharmacies, and gas stations. Now they can also buy bitcoin at their local bank ATM.”
Bitcoin has been receiving a great deal of attention from institutional investors in recent months, resulting in a massive surge in its price. A few days ago, the digital currency attained a new all-time high following the $1.5 billion bitcoin purchase by Tesla.