Place/Date: Miami, Florida – January twenty fourth, 2023 at 7:57 pm UTC · 5 min learn
Contact: Andrew Barnard, CEO, Supply: Genesis Coin Inc

Genesis Coin Inc, Powering 35% of Global Bitcoin ATM Transactions, Acquired by Bitstop Founders

Genesis Coin Inc, the primary and largest Bitcoin ATM software program platform worldwide introduced at present that they’ve been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo.

Based in 2013, Genesis Coin’s expertise powers roughly 35% of worldwide Bitcoin ATM transactions. Barnard and Carrillo, who additionally based Bitstop, constructed the primary and largest private-label Bitcoin ATM platform primarily based in Miami, FL with over 2,500+ Bitcoin ATMs worldwide. Genesis Coin and Bitstop symbolize over 75+ operators working 12,000+ Bitcoin ATMs in the US and worldwide markets powering billions of {dollars} in annual gross sales quantity.

As a part of the acquisition, Andrew Barnard will develop into Chief Govt Officer and Doug Carrillo will develop into Chief Technique Officer and each will be a part of the Board of Administrators of Genesis Coin. Evan Rose, Genesis Coin’s founder, will keep on as a technical advisor and stay a member of the corporate’s Board of Administrators. The Genesis Coin headquarters will transfer to Miami, Florida.

Barnard mentioned:

“Genesis Coin gave delivery to the Bitcoin ATM trade. It’s the primary and largest Bitcoin ATM software program platform in The World. Evan constructed a platform trusted by among the largest Bitcoin ATM operators in our trade, each domestically and internationally, together with the Chivo community in partnership with the Authorities of El Salvador.”

Barnard furthered:

“Our trade is now quickly altering and Genesis Coin will paved the way into the longer term. Carrying out this requires a strong staff of world-class visionaries and builders. At Bitstop, we constructed an unimaginable software program staff and platform which has partnered with among the largest firms each non-public and publicly traded from the standard ATM trade. We plan to carry our background and experience in constructing the perfect expertise and staff within the Bitcoin ATM trade to Genesis Coin. We imagine it is a win-win for all stakeholders.”

Rose commented:

“Andrew, Doug, and I’ve been associates for a very long time and have additionally been pleasant rivals,” commented Rose. “They’ve a popularity for his or her revolutionary and artistic considering. As well as, they’ve been profitable in establishing key relationships within the Bitcoin area and their technical experience and information of Bitcoin could be very spectacular. In flip, this has allowed them to draw and retain top-tier expertise and construct nice merchandise. This transaction represents the approaching collectively of the 2 main software program platforms within the trade and creates worth for each firms’ stakeholders. It combines the perfect product, engineering, and management groups within the area. I’m thrilled to work alongside them and stay up for introducing very thrilling new services now we have deliberate for this 12 months.”

Barnard, Carrillo and Rose pressured the significance of continuous to supply stability to each platforms and persevering with to service the wants of operators on each platforms. In the intervening time, each the Genesis Coin and Bitstop platforms will proceed to run independently whereas exploring technical synergies. Genesis Coin has already made a number of key hires to its growth staff with a core give attention to product growth.

Carrillo concluded:

“This acquisition represents essentially the most important occasion within the Bitcoin ATM trade up to now,” mentioned Carrillo. “Our dedication is to supply Genesis Coin with the right sources it must pave the way in which for continued progress and innovation. We really imagine that this new mixture of the perfect minds in our area would be the catalyst for the Bitcoin ATM trade evolving into its subsequent section. We’re hyper-focused on constructing the perfect software program for Bitcoin ATMs on this planet. At the moment, essentially the most subtle operators in our trade depend on Genesis Coin and Bitstop expertise to energy their companies. Because of this, now we have develop into ‘The Normal’ within the Bitcoin ATM area the place nearly all trade natural M&A exercise at present is going on on the Genesis Coin and Bitstop networks.”

Barnard mentioned:

“Leverage dominated the complete cryptocurrency area during the last two years. Many different platforms in our trade couldn’t resist the siren music. This can be a capital-intensive trade the place you don’t want to be in a whole lot of debt. Genesis Coin is financially safe with a robust steadiness sheet, no debt, and robust money movement. The corporate doesn’t have exterior buyers. The results of that is that operators can construct their future on the Genesis Coin platform with confidence. In a unstable trade, we’re a beacon of stability. We’re bullish on the potential of this trade. We see important market progress from right here over the subsequent 10 years. We imagine we’re in the perfect place within the trade to unite the perfect operators and help their progress. Our objective is to take heed to our operators and ship the perfect merchandise and options to them to allow them to ship most worth to their clients at scale.”

About Genesis Coin

Genesis Coin is the primary and largest white-label Bitcoin ATM community worldwide. We’re the premier supplier of autonomous merchandising options for bitcoin. Genesis Coin’s proprietary managed infrastructure software program resolution has propelled it to develop into the most important supplier of Bitcoin ATMs and software program facilitating self-service shopping for and promoting billions of {dollars} in cryptocurrencies internationally yearly. Genesis Coin’s software program offers clients with a dependable, tailor-made working platform. Genesis Coin delivers its software program by promoting BTMs to third-party operators who present alternatives for companies trying to diversify their income and drive foot site visitors to their areas. Our machines make bitcoin easy for everybody.

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