• Genesis Coin Inc., the first and largest bitcoin ATM software platform in the world, has been acquired by Bitstop Founders Andrew Barnard and Doug Carrillo.
• Together, Genesis Coin and Bitstop represent more than 75 operators with more than 12,000 bitcoin ATMs worldwide.
• 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
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. The transaction combines the two leading software platforms in the industry creating value for both companies’ stakeholders.
Based in Miami, FL, Bitstop has over 2,500 bitcoin ATMs worldwide. As part of the acquisition, Andrew Barnard will become Chief Executive Officer and Doug Carrillo will become Chief Strategy Officer and both will join the Board of Directors of Genesis Coin. The Genesis Coin headquarters will move to Miami, Florida.
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 the billions of dollars.
Comments on Acquisition
In regards to their decision to acquire Genesis Coin, Barnard said “Genesis Coin gave birth to the Bitcoin ATM industry…It’s the first and largest Bitcoin ATM software platform in the world.” Evan Rose also stated that “This transaction represents the coming together of two leading software platforms in our industry…I’m thrilled to work alongside them.”
Impact from Acquisition
For now ,both Genesis coin and Bitstop platforms will continue to run independently while teams explore technical synergies . This acquisition brings together two leading software platforms which creates value for both companies’ stakeholders