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Bitcoin Depot Acquires DFW Bitcoin to Bolster Leadership Position in Cryptocurrency ATM Market.

MANews-(C)2009-2019

13 August 2019 - Atlanta, US-based cryptocurrency ATM network Bitcoin Depot has acquired Texas, US competitor DFW Bitcoin, combining Bitcoin ATM operators, and signaling continued strong growth in the industry, the company said.

Terms of the transaction were not disclosed.

Bitcoin Depot said the acquisition of 10 existing DFW Bitcoin ATMs adds to Bitcoin Depots 22 ATMs in Texas, strengthening the company's network, position in the market, and supporting the evidence for major growth in the industry projected by experts.

Bitcoin ATMs, also called BATMs or Bitcoin kiosks, are one of the fastest growing industries in the world due to the increased demand for physical cryptocurrency transactions.

Bitcoin ATMs are crucial for the acceptance and adoption of Bitcoin due to its vital connection between underbanked communities and the crypto world. Bitcoin Depot ATMs allow users to buy and sell Bitcoin, Litecoin, Ethereum and Bitcoin Cash instantly at hundreds of locations across the United States. Transactions are quick, easy and secure.

Bitcoin Depot provides secure, convenient, customer-service-oriented and cryptocurrency transactions, ultimately opening up the cryptocurrency market to the masses.

The 200-plus strong network of cryptocurrency ATMs enables users to buy and sell Bitcoin, Litecoin, Ethereum and Bitcoin Cash instantly at hundreds of locations across the United States.

Country: USA

Sector: Banking/Financial Services

Target: DFW Bitcoin

Buyer: Bitcoin Depot

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Aug 13, 2019
Words:241
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