Bitcoin Depot, a leading crypto ATM company in the United States, has revealed its plans to go public following the successful completion of a merger deal.

The merger, backed by fintech firm GSR II Meteora Acquisition Corporation, was approved by shareholders on June 30.
The deal, reported August 2022, has a price tag of $885 million and is expected to allow investors to access Bitcoin Depot on the Nasdaq exchange starting July 3.

Brandon Mintz, founder and CEO of Bitcoin Depot, stated that the merger is intended to support various growth opportunities and drive widespread adoption of Bitcoin (BTC) in North America.
Investors will have the opportunity to trade Bitcoin Depot shares on Nasdaq under the symbols BTM and BTMWW for common stock and public warrants, respectively.

This announcement comes at a time when regulatory scrutiny of crypto companies in the United States is intensifying.
The Securities and Exchange Commission recently filed lawsuits against major exchanges, such as Binance and Coinbase, accusing them of performing unregistered securities offerings.

Even so, investment vehicles that provide exposure to cryptocurrencies are gaining in popularity. BlackRock, for instance, filed in June to list a Bitcoin exchange-traded fund (ETF), showing growing interest in crypto-related investments.

Bitcoin Depot, founded in 2016, has emerged as one of the largest crypto ATM companies in North America, boasting over 9,130 locations, as stated on its website.

However, the cryptocurrency industry is not without its challenges. In May, Bitcoin of America, another ATM provider, announced the closure of its Connecticut operations due to the state's Department of Banking asserting that the company lacked the necessary licenses.

With the merger and subsequent public listing, Bitcoin Depot aims to capitalize on its strong market position and expand operations further.
The company's commitment to driving Bitcoin adoption is in line with the growing interest in cryptocurrencies and the growing need for accessible and user-friendly methods to buy and sell. sell digital assets.
When Bitcoin Depot first launches on Nasdaq, it will be interesting to observe how this development shapes the landscape of the crypto industry in the United States.