Bitcoin Depot has announced its backdoor listing plans on the Nasdaq by the first quarter of 2023 via a merger with special purpose acquisition company (SPAC) GSR II Meteora at an estimated equity value of US$885 million, the crypto ATM operator said in https://www.globenewswire.com/en/news-release/2022/08/25/2504442/0/en/Bitcoin-Depot-a-Leading-Bitcoin-ATM-Operator-to-Become-a-Publicly-Traded-Company-Via-Business-Combination-With-GSR-II-Meteora-Acquisition-Corp.html” target=”_blank” rel=”noreferrer noopener nofollow”>a statement.
See related article: https://forkast.news/bitcoin-atms-face-existential-threat-hong-kong/”>Bitcoin ATMs face existential threat in Hong Kong
Fast facts
- Bitcoin Depot allows users to convert cash to Bitcoin, Ethereum and Litecoin at over 7,000 kiosks in 47 U.S. states and nine Canadian provinces, according to the company.
- There are about 38,746 crypto ATMs across 77 countries, https://coinatmradar.com/” target=”_blank” rel=”noreferrer noopener nofollow”>Coin ATM Radar’s data shows.
- Bitcoin ATMs can provide on-ramps for users that may not be familiar with cryptocurrency exchanges.
- Crypto ATMs, however, may not have as bright of a future in Asian finance hubs, as such businesses face regulatory challenges in Hong Kong, the region with the most Bitcoin machines in Asia.
See related article: https://forkast.news/headlines/ukrainian-bitcoin-atm-asia/”>Ukrainian Bitcoin ATM producer eyes Asia expansion
https://forkast.news/headlines/bitcoin-depot-us885-mln-spac-listing-plans/”>