One of the biggest crypto ATMs in the US, Bitcoin Depot, has announced the completion of the merger agreement that will enable it to go public.
Fintech company GSR II Meteora Acquisition Corporation announced on June 30 that its owners had authorised the merger enabling the firm to serve as a special purpose acquisition firm for Bitcoin Depot.
The $885 million agreement, which was initially publicised in August 2022, is anticipated to give investors access to Bitcoin Depot on the Nasdaq as of July 3.
As per Brandon Mintz, the founder and CEO of Bitcoin Depot, the merger agreement was made to promote “numerous growth opportunities” and advance the use of Bitcoin in North America.
The ticker symbols BTM and BTMWW for Bitcoin Depot’s common stock and public warrants, respectively, will be available to investors.
The statement came while American businesses offering cryptocurrency products or services were under surveillance by regulators.
Notably, a complaint was filed by the Securities and Exchange Commission (SEC) on the exchanges Binance and Coinbase for allegedly offering unregistered securities.
Nevertheless, it appears that financial sources with access to cryptocurrencies are also on the rise after BlackRock submitted an application for a spot Bitcoin exchange-traded fund in June.
As per the website, Bitcoin Depot, one of the largest cryptocurrency ATM companies in North America, has more than 9,130 locations.
Bitcoin of America, a rival provider of ATMs, said in May that it will cease business in Connecticut because the state’s Department of Banking claimed the company lacked the necessary licenisng.
