• 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 will see Barnard become the CEO and Carrillo become the Chief Strategy Officer, while Genesis Coin’s founder Evan Rose will remain on as a technical advisor and Board Member.
• The Genesis Coin headquarters will move to Miami, Florida, and their technology will continue to power approximately 35% of global Bitcoin ATM transactions.
Genesis Coin Inc, the first and largest Bitcoin ATM software platform in the world, has been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo. Founded in 2013, Genesis Coin’s technology powers approximately 35% of global Bitcoin ATM transactions. Barnard and Carrillo, who also founded Bitstop, built the first and largest private-label Bitcoin ATM platform based in Miami, Florida, with 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. 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 acquisition is a major milestone for the Bitcoin ATM industry, as 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. As part of the acquisition, Barnard and Carrillo are expected to leverage their technical expertise to bring innovation and cutting-edge technological advancements to the Bitcoin ATM industry.
Andrew Barnard, the new Chief Executive Officer of Genesis Coin 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 in our industry, both domestically and internationally, including the Chivo network in partnership with the Government of El Salvador. Our industry is now rapidly changing and Genesis Coin will lead the way into the future. Accomplishing this requires a solid team of world-class visionaries and developers. At Bitstop, we built an incredible software team and will bring that same level of experience and innovation to Genesis Coin.”
The acquisition of Genesis Coin by Bitstop’s founders marks a major milestone for the Bitcoin ATM industry. With the combination of Genesis Coin’s expertise in software development and Bitstop’s experience in building and operating Bitcoin ATMs, the industry is now ready to enter the next phase of growth and development. This acquisition will not only benefit the Bitcoin ATM industry, but also the cryptocurrency space as a whole, as it will help increase the adoption of digital currencies around the world.