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Cryptocurrency ATM market leader Bitcoin Depot plans to go public with a market cap of $885 million through a merger with SPAC GSR II Meteora Acquisition Corp. The
Cryptocurrency ATM market leader Bitcoin Depot plans to go public with a market cap of $885 million through a merger with SPAC GSR II Meteora Acquisition Corp. The Wall Street Journal writes about it.
According to its Coin ATM Radar service, the firm operates 6,915 devices worldwide. In the USA, the company has a 19.7% market share by operating 6,714 ATMs. Its closest competitor, CoinCloud, has 5261 cryptomats (15.5%).
Bitcoin Depot ATMs allow you to connect to the wallet and exchange fiat for Bitcoin, Litecoin or Ethereum after verification. The company has also launched a service for purchasing digital assets using a mobile app.
Bitcoin Depot has implemented a layered compliance system that includes the disclosure of additional details for large transactions.
According to CEO Brandon Mintz, once listed, the company may consider options to acquire competitors.
Recall that in August online broker Robinhood agreed to reduce the purchase price of Ziglu by 58% due to worsening market conditions.
Previously, Galaxy Digital had refused to honor the BitGo acquisition agreement.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
