Key Takeaways
- Early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo acquires Genesis Coin.
- Genesis Coin’s technology powers approximately 35% of global Bitcoin ATM transactions.
- This acquisition is considered the most significant event in the Bitcoin ATM industry to date, as it combines the best product, engineering, and leadership teams in the space.
Early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo have acquired Genesis Coin, the first and largest Bitcoin ATM software platform in the world. Genesis Coin’s technology powers approximately 35% of global Bitcoin ATM transactions.
Barnard and Carrillo also founded Bitstop, the first and largest private-label Bitcoin ATM platform based in Miami, FL with over 2,500+ Bitcoin ATMs worldwide.
Genesis Coin and Bitstop represent over 75+ operators operating 12,000+ Bitcoin ATMs in the United States and international markets powering billions of dollars in annual sales volume.
Andrew Barnard, said: “Genesis Coin gave birth to the Bitcoin ATM industry. It’s the first and largest Bitcoin ATM software platform in the world.”
Genesis Coin’s Bitcoin ATM solution is used by some of the largest Bitcoin ATM operators in the industry, both domestically and internationally, including the Chivo network in partnership with the Government of El Salvador.
The acquisition will see Barnard become CEO and Carrillo 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.
The companies will continue to run independently while exploring technical synergies.
The acquisition of Genesis Coin by Andrew Barnard and Doug Carrillo represents a major milestone in the Bitcoin ATM industry. Genesis Coin, as the first and largest Bitcoin ATM software platform in the world, has played a significant role in the growth and development of the industry, and its acquisition by Barnard and Carrillo, who also founded Bitstop, brings together two leading software platforms. The acquisition will also provide Genesis Coin with the necessary resources to pave the way for continued growth and innovation. The coming together of the two companies and their experienced leadership teams is expected to be a catalyst for the Bitcoin ATM industry evolving into its next phase.
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