Genesis Coin Acquired by Bitstop Founders, Powers 35% of Bitcoin ATM Transactions
• 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.
• The acquisition combines the two leading software platforms in the industry with combined sales volume of billions of dollars annually.
• Evan Rose, Genesis Coin’s founder, will remain as a technical advisor and member on the Board of Directors, while Andrew Barnard is now CEO and Doug Carrillo is CFO.
Acquisition Of Genesis Coin By BitStop
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. Based in Miami, FL, Bitstop has over 2,500 bitcoin ATMs worldwide with annual sales volume in the billions of dollars. The acquisition combines the two leading software platforms in the industry creating value for both companies’ stakeholders.
New Leadership
As part of the acquisition, Andrew Barnard will become Chief Executive Officer (CEO) and Doug Carrillo will become Chief Strategy Officer (CFO) 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 company’s Board of Directors. The headquarters for Genesis Coin will move to Miami Florida.
Impact Of Acquisition
Together these two companies represent more than 75 operators with over 12000 bitcoin ATMs across United States and internationally facilitating annual sales volume in billions of dollars which adds value for both companies’ stakeholders. Regarding this decision to acquire Genesis Coin Barnard said “Genesis coin gave birth to Bitcoin ATM industry”.
Plans For Future
At present time both platforms are running independently while teams explore technical synergies however they have plans to introduce exciting new products & services this year which would further add value to their stake holders.
Conclusion
This transaction represents coming together of two leading software platforms in industry creating value for all stakeholders involved which includes over 12000 Bitcoin ATMs facilitating annual sales volume worth billions globally adding more value to investors /stakeholders associated with it .