Bitcoin Depot Announces Distribution Partnership with CORD Financial Services

Rhea-AI Summary

Bitcoin Depot Inc. (BTM) partners with CORD Financial Services, LLC to expand Bitcoin ATM placements across the U.S. The partnership aims to leverage CORD's established customer base and expertise in the ATM industry to drive additional placement opportunities for Bitcoin Depot. This collaboration will bring a financial technology-driven Bitcoin ATM solution to CORD's customer base, broadening Bitcoin Depot's mission of bringing Bitcoin to the masses.

Positive

• Partnership with CORD Financial Services, LLC provides access to a wider customer base
• Leveraging CORD's expertise in the ATM industry for additional placement opportunities
• Bringing a financial technology-driven Bitcoin ATM solution to CORD's customer base

Negative

• None.

ATLANTA, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Bitcoin Depot Inc. (“Bitcoin Depot” or the “Company”) (NASDAQ: BTM), a U.S.-based Bitcoin ATM operator and leading fintech company, today announced its partnership with CORD Financial Services, LLC (CORD), a leading provider of innovative ATM solutions, to distribute Bitcoin Depot kiosks across the U.S.

CORD and Bitcoin Depot will secure Bitcoin ATM placements within CORD’s established base of customers and to customers new to CORD. In addition to now offering Bitcoin ATM services, CORD is a leader in the ATM Services Business, offering full-service ATM placements, cash management, transaction processing, merchant services, ATM equipment, sales, and 24/7 customer and technical support.

“This partnership will allow Bitcoin Depot to expand our retail locations while leveraging CORD’s expertise and customer relationships in the ATM industry,” said Bitcoin Depot CEO Brandon Mintz. “CORD has an impressive history of reliable ATM services and a demonstrated mastery of the conventional ATM space. We look forward to leveraging their relationship network and brand awareness to drive additional placement opportunities for our business.”

“Our mission is to deliver comprehensive ATM business solutions with the highest value and professional integrity,” said CORD Financial President Kenneth Gilbert. “Bitcoin Depot is the ideal partner to advance that objective, and we look forward to bringing a financial technology-driven Bitcoin ATM solution to our customer base."

The combination of CORD’s robust infrastructure and network positions them as a fitting partner for distributing Bitcoin Depot’s state-of-the-art Bitcoin ATMs to the market, broadening Bitcoin Depot’s mission of bringing Bitcoin to the masses.

About Bitcoin Depot
Bitcoin Depot (Nasdaq: BTM) was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into Bitcoin, which users can deploy in the payments, spending and investing space. Users can convert cash to Bitcoin at Bitcoin Depot’s kiosks and at thousands of name-brand retail locations in 48 U.S. states through its BDCheckout product. The Company has the largest market share in North America with approximately 6,400 kiosk locations as of June 30, 2023. Learn more at www.bitcoindepot.com.

About Cord Financial:
CORD Financial Services is a leading provider of innovative ATM solutions, products, and services that support merchants with responsive, knowledgeable, and caring people. CORD offers full -service ATM placements, cash management, ATM transaction processing, ATM equipment sales, ATM parts, and outstanding 24/7 customer and technical support.

Contacts:

Investors 
Cody Slach, Alex Kovtun 
Gateway Group, Inc. 
949-574-3860 
BTM@gateway-grp.com

Media 
Zach Kadletz, Brenlyn Motlagh, Ryan Deloney 
Gateway Group, Inc.
949-574-3860 
BTM@gateway-grp.com

FAQ

What is the partnership between Bitcoin Depot Inc. and CORD Financial Services, LLC about?

The partnership aims to distribute Bitcoin Depot kiosks across the U.S. leveraging CORD's established customer base and expertise in the ATM industry.

What services does CORD Financial Services, LLC offer?

CORD offers full-service ATM placements, cash management, transaction processing, merchant services, ATM equipment sales, and 24/7 customer and technical support.

What is the mission of Bitcoin Depot Inc.?

Bitcoin Depot's mission is to bring Bitcoin to the masses, and the partnership with CORD aligns with this mission by expanding Bitcoin ATM placements.

Who is the CEO of Bitcoin Depot Inc.?

Brandon Mintz is the CEO of Bitcoin Depot Inc.

What does CORD Financial President Kenneth Gilbert say about the partnership?

Kenneth Gilbert states that Bitcoin Depot is the ideal partner to advance CORD's objective of delivering comprehensive ATM business solutions.

What is the goal of the partnership between Bitcoin Depot Inc. and CORD Financial Services, LLC?

The goal is to bring a financial technology-driven Bitcoin ATM solution to CORD's customer base and leverage CORD's network for additional placement opportunities.