OTI Enters Bitcoin Market: Will Process Bitcoin at Physical Retailers Around the World
OTI stock more than doubled following the announcement made pre-market on
OTI's Bitcoin strategy was articulated by OTI CEO
OTI already has its payment processing technologies integrated at retail locations across the world, from ATMs, to vending machines, to fast food chains, to gas stations. OTI accepting Bitcoin will mean each of its retail customers will be able to receive payment in Bitcoin. I believe OTI's ability to Bitcoin enable retailers is a huge competitive advantage for the company and will lead to many new, larger and more lucrative contracts for OTI. It can also propel Bitcoin higher by expanding the number of retailers that accept the blockchain-based cryptocurrency.
Bitcoin itself has gone from
One of the first retailers to accept Bitcoin,
Overstock CEO
Bottom line: As a leader in cashless and contactless (NFC) payment solutions, OTI is ideally positioned to bring Bitcoin usage to the physical retail market. While a growing number of online retailers and merchants accept Bitcoin, it's still rare that a retail location can process a Bitcoin payment in person. OTI has the technology and infrastructure to become the world's leader in Bitcoin payment processing for physical retailers.
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