The renowned Bitcoin ATM software entity, Genesis Coin Inc., has made public its takeover by the Bitstop Founders, Doug Carrillo and Andrew Barnard. With a global foothold, Genesis Coin’s software technology forms the backbone of over a third of all Bitcoin ATM transactions. Originating from Miami, Florida, Barnard and Carrillo have a strong reputation as the creators of Bitstop, an influential entity in the private label Bitcoin ATM marketplace, boasting a network spanning over 2,500 Bitcoin ATMs worldwide.
In the shuffle of roles post-acquisition, Barnard is set to take on the mantle of Genesis Coin’s Chief Executive Officer while Carrillo steps into the shoes of the Chief Strategy Officer. Both pioneers will serve on Genesis Coin’s Board of Directors. Meanwhile, Evan Rose, the visionary behind Genesis Coin, will continue contributing his technical know-how as an advisor and maintain his position on the company’s Board of Directors. The headquarters of Genesis Coin will also see a change of scenery, moving to Miami, Florida.
Unitedly, Bitstop and Genesis Coin influence over 75 operators, managing in excess of 12,000 Bitcoin ATMs both domestically and globally, churning an impressive annual sales volume reaching billions. Reflecting on the acquisition, Barnard noted that Genesis Coin was a cornerstone in the formation of the Bitcoin ATM industry, applauding its stature as the topmost Bitcoin ATM software platform across the globe. He praised Rose’s work, crediting him with creating a platform relied upon by many of the industry’s top Bitcoin ATM operators, including the internationally recognized Chivo network in El Salvador.
Rose voiced his excitement about the united front, remarking that the consolidation of the industry’s topmost software platforms would provide added value to all stakeholders. He foresees a positive amalgamation of the industry’s finest product, engineering, and leadership teams. He added, “I’m delighted to be part of this exciting journey and eagerly look forward to the roll-out of a suite of innovative new products and services planned for the upcoming year.”
As it stands, both Genesis Coin and Bitstop will retain their independence while their respective teams delve into opportunities for potential technical integration.
Added Information: This takeover marks a significant milestone in the Bitcoin ATM industry, showcasing the pivotal roles both Genesis Coin and Bitstop hold. Bitcoin ATMs are not only providing unprecedented access to cryptocurrencies for people across the globe but are particularly significant in regions where traditional banking facilities are scarce. With the continuous surge in cryptocurrency adoption in various industries, the demand for Bitcoin ATM services is set to skyrocket, making this acquisition a strategically beneficial move for Bitstop. By harnessing the collective strengths of Genesis Coin and Bitstop, the duo could catalyze further expansion and innovation within the Bitcoin ATM landscape.