• Genesis Coin Inc, the first and largest Bitcoin ATM software platform worldwide, has been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo.
• 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.
• Evan Rose, Genesis Coin’s founder, will stay on as a technical advisor and remain a member of the company’s Board of Directors. The Genesis Coin headquarters will move to Miami, Florida.
On the 24th of January 2023, Genesis Coin Inc, the first and largest Bitcoin ATM software platform worldwide, announced that they had been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo, who also founded Bitstop. With the acquisition, the Bitcoin ATM industry was set to undergo a major transformation, as Barnard and Carrillo aimed to build the first and largest private-label Bitcoin ATM platform based in Miami, FL.
Genesis Coin and Bitstop represent over 75+ operators operating 12,000+ Bitcoin ATMs in the United States and international markets, with the technology powering approximately 35% of global Bitcoin ATM transactions. With billions of dollars in annual sales volume, the acquisition brought about a number of changes for the industry.
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. Evan Rose, Genesis Coin’s founder, will stay on as a technical advisor and remain a member of the company’s Board of Directors. The Genesis Coin headquarters will move to Miami, Florida.
In a statement, 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 built a platform trusted by some of the largest Bitcoin ATM operators and that’s why we chose to acquire them. We look forward to continuing to provide the best Bitcoin ATM software platform and grow the industry together.”
The acquisition of Genesis Coin highlights the importance of Bitcoin ATMs in the cryptocurrency industry. With the move to Miami, the company will be in a better position to capitalize on the growth of the industry and further strengthen its presence in the market. As the industry continues to expand, it will be exciting to see how Genesis Coin and Bitstop will shape the future of the Bitcoin ATM industry.