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

[PRESS RELEASE – Miami, Florida, 24th January 2023]

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

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

As a part of the acquisition, Andrew Barnard will change into Chief Government Officer and Doug Carrillo will change 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.

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

Our business is now quickly altering and Genesis Coin will prepared the ground into the long run. Undertaking this requires a stable staff of world-class visionaries and builders. At Bitstop, we constructed an unimaginable software program staff and platform which has partnered with a few of the largest corporations each non-public and publicly traded from the normal ATM business. We plan to convey our background and experience in constructing the very best know-how and staff within the Bitcoin ATM business to Genesis Coin. We imagine it is a win-win for all stakeholders,” furthered Barnard.

“Andrew, Doug, and I’ve been associates for a very long time and have additionally been pleasant opponents,” commented Rose. “They’ve a status for his or her revolutionary and inventive pondering. As well as, they’ve been profitable in establishing key relationships within the Bitcoin house 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 business and creates worth for each corporations’ stakeholders. It combines the very best product, engineering, and management groups within the house. I’m thrilled to work alongside them and look ahead to introducing very thrilling new services and products now we have deliberate for this 12 months,” commented Rose.

Barnard, Carrillo and Rose harassed the significance of constant to offer stability to each platforms and persevering with to service the wants of operators on each platforms. In the interim, 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 improvement staff with a core deal with product improvement.

“This acquisition represents probably the most important occasion within the Bitcoin ATM business to this point,” mentioned Carrillo. “Our dedication is to offer Genesis Coin with the correct assets it must pave the way in which for continued progress and innovation. We actually imagine that this new mixture of the very best minds in our house would be the catalyst for the Bitcoin ATM business evolving into its subsequent section. We’re hyper-focused on constructing the very best software program for Bitcoin ATMs on this planet. At present, probably the most refined operators in our business depend on Genesis Coin and Bitstop know-how to energy their companies. Because of this, now we have change into ‘The Commonplace’ within the Bitcoin ATM house the place nearly all business natural M&A exercise at the moment is going on on the Genesis Coin and Bitstop networks.” concluded Carrillo.

“Leverage dominated your complete cryptocurrency house over the past two years. Many different platforms in our business couldn’t resist the siren tune,” mentioned Barnard. “It is a capital-intensive business the place you do not need to be in lots of debt. Genesis Coin is financially safe with a powerful stability sheet, no debt, and powerful money circulate. 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 risky business, we’re a beacon of stability. We’re bullish on the potential of this business. We see important market progress from right here over the following 10 years. We imagine we’re in the very best place within the business to unite the perfect operators and assist their progress. Our aim 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,” concluded Barnard.

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 change into the biggest 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 gives 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 seeking to diversify their income and drive foot site visitors to their places. Our machines make bitcoin easy for everybody. www.bitcoinatm.com