Bitcoin Pioneers Andrew Barnard and Doug Carrillo Acquire Industry Leader Genesis Coin Inc: The First and Largest Bitcoin ATM Software Platform Worldwide

In a major move for the Bitcoin ATM industry, early pioneers Andrew Barnard and Doug Carrillo have acquired Genesis Coin Inc, the first and largest software platform for Bitcoin ATMs worldwide. Founded in 2013, Genesis Coin Inc currently accounts for around 35% of all Bitcoin ATM transactions globally. The acquisition brings together two industry leaders, as Barnard and Carrillo also founded Bitstop, the first and largest private label Bitcoin ATM platform based in Miami, FL, which now operates over 2,500 Bitcoin ATMs worldwide.

The merger of Genesis Coin and Bitstop represents a significant share of the market, with the two companies 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 will become CEO and Carrillo will become Chief Strategy Officer, while Evan Rose, the founder of Genesis Coin, will stay on as a technical advisor and remain on the company’s Board of Directors. The Genesis Coin headquarters will also move to Miami. 

Speaking about the acquisition, Barnard said, “Genesis Coin gave birth to the Bitcoin ATM industry. It’s the first and largest Bitcoin ATM software platform in the world. Our industry is now rapidly changing, and Genesis Coin will lead the way into the future.” He went on to say that the merger will bring together the best product, engineering, and leadership teams in the space and that he and Carrillo plan to use their expertise to build the best technology and team in the Bitcoin ATM industry for Genesis Coin. 

Rose also commented on the acquisition, saying, “Andrew, Doug, and I have been friends for a long time and have also been friendly competitors. They have a reputation for their innovative and creative thinking. In addition, they have been successful in establishing key relationships in the Bitcoin space and their technical expertise and knowledge of Bitcoin is very impressive.”

 Both companies have emphasized the importance of continuing to provide stability to both platforms and continuing to service the needs of operators on both platforms. For the time being, both the Genesis Coin and Bitstop platforms will continue to operate independently while exploring technical synergies. Genesis Coin has already made several key hires to its development team with a focus on product development.

 The acquisition of Genesis Coin by Barnard and Carrillo represents a significant step forward for the Bitcoin ATM industry. The merger of two industry leaders is expected to pave the way for continued growth and innovation, as the combined companies aim to build the best software for Bitcoin ATMs in the world.