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 as we speak 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 america and worldwide markets, powering billions of {dollars} in annual gross sales quantity.

As a part of the acquisition, Andrew Barnard will grow to be Chief Government Officer and Doug Carrillo will grow to be 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 start to the Bitcoin ATM trade,” mentioned Barnard. “It’s the primary and largest Bitcoin ATM software program platform in The World. Evan constructed a platform trusted by a number of 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.

Our trade is now quickly altering and Genesis Coin will cleared the path into the long run. Undertaking this requires a strong staff of world-class visionaries and builders. At Bitstop, we constructed an unbelievable software program staff and platform which has partnered with a number of the largest corporations each non-public and publicly traded from the normal ATM trade. We plan to convey our background and experience in constructing one of the best know-how and staff within the Bitcoin ATM trade to Genesis Coin. We imagine this can be 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 rivals,” commented Rose. “They’ve a popularity for his or her modern and inventive considering. As well as, they’ve been profitable in establishing key relationships within the Bitcoin house and their technical experience and data of Bitcoin may 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 corporations’ stakeholders. It combines one of the best product, engineering, and management groups within the house. I’m thrilled to work alongside them and sit up for introducing very thrilling new services and products we’ve deliberate for this yr,” commented Rose.

Barnard, Carrillo and Rose harassed the significance of constant to supply 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 concentrate on product improvement.

“This acquisition represents probably the most important occasion within the Bitcoin ATM trade so far,” mentioned Carrillo. “Our dedication is to supply Genesis Coin with the right assets it must pave the way in which for continued progress and innovation. We really imagine that this new mixture of one of the best minds in our house would be the catalyst for the Bitcoin ATM trade evolving into its subsequent part. We’re hyper-focused on constructing one of the best software program for Bitcoin ATMs on the planet. As we speak, probably the most refined operators in our trade depend on Genesis Coin and Bitstop know-how to energy their companies. Consequently, we’ve grow to be ‘The Commonplace’ within the Bitcoin ATM house the place nearly all trade natural M&A exercise as we speak is going on on the Genesis Coin and Bitstop networks.” concluded Carrillo.

“Leverage dominated the complete cryptocurrency house over the past two years. Many different platforms in our trade couldn’t resist the siren tune,” mentioned Barnard. “It is a capital-intensive trade the place you don’t want to be in numerous debt. Genesis Coin is financially safe with a powerful stability sheet, no debt, and robust money circulation. The corporate doesn’t have exterior traders. The results of that is that operators can construct their future on the Genesis Coin platform with confidence. In a risky 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 following 10 years. We imagine we’re in one of the best place within the trade to unite the perfect operators and help their progress. Our purpose 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 grow to be the biggest supplier of Bitcoin ATMs and software program facilitating self-service shopping for and promoting billions of {dollars} in cryptocurrencies the world over 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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