Mon. Mar 4th, 2024

• Genesis Coin, the first and largest bitcoin ATM software platform in the world, has been acquired by Bitstop Founders Andrew Barnard and Doug Carrillo.
• The acquisition combines the two leading software platforms in the industry with Genesis Coin’s technology powering over 35% of all bitcoin ATM transactions around the world.
• Evan Rose, Genesis Coin’s founder, will stay on as a technical advisor and remain a member of the company’s Board of Directors.

Acquisition of Genesis Coin by Bitstop

Genesis Coin Inc., the first and largest bitcoin ATM software platform in the world, announced that they have been acquired by Bitstop Founders Andrew Barnard and Doug Carrillo. According to the press release sent to Bitcoin Magazine, Genesis Coin’s technology powers over 35% of all bitcoin ATM transactions around the world.

Bitstop Founded by Barnard and Carrillo

Barnard and Carrillo built one of the first and largest private label bitcoin ATM platforms through Bitstop. Based in Miami, FL, Bitstop has over 2,500 bitcoin ATMs worldwide. As part of their acquisition of Genesis Coin, Andrew Barnard will become Chief Executive Officer and Doug Carrillo will become Chief Strategy Officer–both joining Geneses Coin’s Board of Directors. Additionally, Evan Rose–Genesis Coins’ founder–will stay on as a technical advisor while staying as a member on Geneses Coins’ Board of Directors. The headquarters for Geneses Coins is also moving to Miami Florida.

Combining Platforms

Together, Genesis Coin and Bitstop represent more than 75 operators with more than 12,000 bitcoin ATMs across the United States and internationally facilitating annual sales volume in billions of dollars. In regards to their decision to acquire Geneses Coins, Barnard said “It gives birth to Bitcoin ATM industry … It’s the first and largest Bitcoin ATM software platform in the world.” He went on further to explain that this transaction represents “the coming together” for both companies stakeholders creating value for them both.

Future Plans

For now both platforms will continue running independently while teams explore technical synergies according to their press release. Also stated was that they are looking forward introducing new products/services this year!

Conclusion

The acquisition between Genesise Coins & Bitstop represent an exciting future within Bitcoin ATMs creating value for its stakeholders while introducing new products & services!

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