BOTS Acquires ATM Network, Launches Growth Strategy to Deploy Bitcoin ATMs

By AIT News Desk On May 27, 2021

BOTS positions itself to capitalize on mass-market adoption of digital assets through its Bitcoin ATM patents. Crypto ATM market size is expected to grow at an average CAGR of 54.7% over the next 4 years to $176.8 million

BOTS, Inc., a global technology company specialized in Blockchain-based solutions including decentralized finance applications for the financial industry, cybersecurity solutions, crypto mining, consulting, mining equipment repair and insurance, today announces the acquisition of an ATM network and additional crypto assets as part of its Bitcoin ATM growth strategy. The Company already owns a portfolio of digital assets and cryptocurrency-related businesses such as BeadSwap, a decentralized crypto exchange and Bitcoin ATM machines and its US patents.

The purchase includes location placement contracts, ATM kiosks and backend software maintenance agreements. This acquisition complements BOTS’ Bitcoin ATM patents and is an instrumental part of its growth strategy.

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The Company plans on adding cryptocurrency trading functionality to legacy banking ATMs, leading in the latest trend as the adoption of digital assets becomes mainstream. The integration of cryptocurrencies into major financial institutions has paved the way for mass consumer adoption, BOTS aims to facilitate buying and selling through existing and trusted legacy ATM networks already deployed worldwide. BOTS also plans on licensing its Bitcoin ATM IP to independent operators nationwide and gain significant market-share of the U.S. Bitcoin ATM market.

According to Market Data Forecast, the crypto ATM market size was valued at 31.3 million USD in 2019 and is estimated to grow to 176.8 million USD by 2025 with an average CAGR of 54.7% over this period, making it one of the fastest-growing sectors in financial technology. BOTS is strategically positioned to capitalize on this growth due to its ownership of Bitcoin ATM patents in the U.S. and developing technology to add cryptocurrency trading capabilities to legacy ATM networks worldwide.