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

1. "America Launches Its First Bitcoin ATMs : Q&A With Liberty Teller Co-Founder | Investopedia". Investopedia. Retrieved 2016-01-15.
2. "Startup Accelerator Gives Boost to Bitcoin ATM Operator Liberty Teller". CoinDesk. Retrieved 2016-01-15.
3. "America Launches Its First Bitcoin ATMs : Q&A With Liberty Teller Co-Founder (GOOG,FB)". Investopedia. Retrieved 2015-12-15.
4. "Massachusetts Institute of Technology Launches First Bitcoin ATM". CoinDesk. Retrieved 2016-01-15.
5. "Clover Welcomes Harvard Square's First Bitcoin ATM | News | The Harvard Crimson". www.thecrimson.com. Retrieved 2016-01-15.
6. "LibertyX Brings Bitcoin Buying to 2,500 US Retail Stores". CoinDesk. Retrieved 2015-12-15.
7. "Coin Outlet Acquires LibertyX Bitcoin ATM Network". Reuters. 2015-03-02. Retrieved 2015-12-15.
8. "Bitcoin Broker LibertyX Raises $400k for Hiring Push". CoinDesk. Retrieved 2016-01-15.
9. "Buy Bitcoin From 13,000 Retail Locations With LibertyX - The Merkle". The Merkle. Retrieved 2016-01-15.
10. "LibertyX: Cash to Cloud Money at Local Stores". Uphold. Retrieved 2015-12-15.
11. "Project 11 Ventures". Project 11 Ventures. Retrieved 2015-12-15.