JAKARTA - Bitcoin Depot and GSR II Meteora Acquisition Corp have announced the completion of their business merger, forming a new entity to be known as Bitcoin Depot Inc. In a recent press release, the company announced that its shares will start trading on Nasdaq on July 3, 2023 with tickers "BTM" and "BTMW".
Bitcoin Depot CEO and founder Brandon Mintz welcomed the closing of this transaction and the listing of their company on Nasdaq. He stated that this was a big step forward for the Bitcoin Depot team and acknowledged its strong market share in North America.
"The closure of this transaction and our listing on Nasdaq is a big leap forward and a proud moment for the entire Bitcoin Depot team," said Brandon Mintz, CEO and Founder of Bitcoin Depot.
Mintz also mentioned that additional capital from this merger will help drive the company's growth plan and allow them to safely bring Bitcoin to society.
Bitcoin Depot, which was founded in 2016, is a leading Bitcoin ATM operator in North America. The company aims to bridge the gap between users who prefer to use cash and the digital financial system.
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With more than 6,440 kiosks in North America in March 2023, Bitcoin Depot has managed to build a large trail. After this merger, the company will take advantage of its growing Bitcoin ecosystem to advance their mission.
Bitcoin ATMs, or BTMs, are physical kiosks that allow the purchase and sale of Bitcoin and other cryptocurrencies. Bitcoin ATMs first appeared in 2013 in Vancouver, Canada, and since then BTM operators have grown worldwide.
Operators such as CoinFlip, Bitcoin Depot, and Coinsource are prominent in the United States with easy-to-use interfaces and fast transactions. The increase in the number of BTM reflects increased adoption of cryptocurrencies, although it is also faced with criticism over money laundering and fraud issues.
With the merger of Bitcoin Depot and GSR II Meteora Acquisition Corp, this leading Bitcoin ATM operator will combine their power to further expand services and achieve greater growth in the future. With the new name and stock to be traded on Nasdaq, Bitcoin Depot Inc. are determined to bring Bitcoin to society in a safe and trusted manner.
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