CoinFlip, the #1 Global Bitcoin ATM Network Is Making Programmable Bitcoin More Accessible with Stacks, the Leading Bitcoin L2 (20 Nov)

New York, New York, November 20th, 2024, Chainwire

CoinFlip, the world's leading Bitcoin ATM network, is set to enhance the accessibility and programmability of Bitcoin through its integration with Stacks and upcoming support for sBTC, Stacks’ 1:1 Bitcoin-backed asset. CoinFlip ATMs enable customers to easily convert cash to crypto and vice versa, serving over 400,000 customers globally. The company also has a rapidly growing presence in the Australasia region, Mexico, and Italy, among others, playing a pivotal role in expanding Bitcoin accessibility. CoinFlip’s integration with Stacks allows for seamless access to programmable Bitcoin features directly at CoinFlip ATMs, bridging traditional finance with advanced blockchain technology.

CoinFlip's extensive ATM network, combined with Stacks' capabilities, creates a unique bridge between traditional financial access points and advanced blockchain functionalities. This synergy is evident in the rapidly growing global appetite for physical crypto onramps, with cryptocurrency ATMs worldwide surging 17.8% to 38,279 this year. CoinFlip has been at the forefront of this expansion, becoming the largest operator in Australasia with nearly 700 kiosks and impressive growth rates. The company's international expansion continues to gain momentum, establishing itself as the largest operator in Mexico and Italy, underscoring its role in bridging the gap between traditional finance and decentralized technologies.

Expanding Bitcoin's Ecosystem

The integration enables the development of Bitcoin-native financial products and services without modifying the Bitcoin blockchain itself. This approach preserves Bitcoin's core properties while expanding its ecosystem, potentially leading to:

• Bitcoin-backed loans and lending platforms
• Decentralized exchanges operating on Bitcoin's security
• Yield-generating opportunities for Bitcoin holders
• Creation and trading of Bitcoin-based NFTs

"We're committed to making Bitcoin more accessible and useful for everyone. Our support for sBTC plays directly into that goal,” says Jeff Tong, Chief Technology Officer of CoinFlip. “sBTC opens up a world of possibilities for Bitcoin holders, allowing them to participate in smart contracts and decentralized applications while maintaining the security and value of their Bitcoin. By bringing sBTC to our extensive network of ATMs, we're empowering our customers to engage with the broader Bitcoin ecosystem in new and exciting ways.”

Democratizing Access to Advanced Crypto Features

By making programmable Bitcoin accessible through ATMs, CoinFlip is democratizing access to advanced cryptocurrency features. This move has the potential to bring complex blockchain functionalities to a broader audience, drastically expanding the Bitcoin ecosystem and user access.

Best and the Brightest

News of CoinFlip’s Stacks integration is part of the Stacks Foundation's "Best and the Brightest" campaign, which aims to showcase leading organizations that support sBTC, Stacks’ fully programmable Bitcoin asset. This campaign features top organizations across the Bitcoin ecosystem, emphasizing their commitment to advancing the utility and accessibility of Bitcoin. By aligning with industry leaders, the Stacks Foundation seeks to educate the community about the transformative potential of sBTC and its role in activating a robust Bitcoin economy.

About CoinFlip

CoinFlip is a global digital currency platform company, focused on providing consumers simple and secure access to buy and sell cryptocurrency. The company operates the world's largest network of cryptocurrency kiosks by transaction volume with more than 5,000 kiosks across 49 U.S. states, Puerto Rico, Canada, Australia, New Zealand, South Africa, Italy, Panama, Brazil Mexico, and Spain. CoinFlip’s digital currency kiosks make buying and selling major cryptocurrencies accessible and safe for consumers who wish to purchase their digital currency using cash. CoinFlip also operates CoinFlip Preferred, a personalized over-the-counter service that provides investors with custom, white glove support for their cryptocurrency transactions. In 2022, CoinFlip launched CoinFlip Ventures, an investment group offering coaching, funding, and networking support to early-stage crypto and web3 projects. CoinFlip was founded in 2015 by Daniel Polotsky, Kris Dayrit, Alan Gurevich, and Ben Weiss. Headquartered in Chicago, CoinFlip placed in the top 500 on the 2021, 2022, and 2023 Inc. 5000 list, and on the 2022 and 2023 Deloitte Technology Fast 500, was named the 2021 and 2022 #1 fastest-growing company in Chicago by Crain's, ranked in Chicago Tribune’s Top Workplaces in 2021 and 2022, and was awarded the 2021 and 2022 Stevie ® Awards for Customer Service. To learn more about CoinFlip and how to get started on your digital currency journey, visit www.CoinFlip.tech.

About Stacks

Stacks is a Bitcoin L2 that enables smart contracts and decentralized applications to use Bitcoin as a secure base layer. The 2024 Nakamoto release will bring faster speeds as well as transactions that are as irreversible as Bitcoin’s once confirmed, setting the stage for a programmable Bitcoin asset called sBTC later in the year. ‍Stacks is the current leading Bitcoin L2 by developer traction and market cap and is poised to help unlock Bitcoin and its $1T in passive capital as a fully programmable, productive asset. The Stacks (STX) token, used as gas on the L2, was the first to undergo an SEC-qualified sale in the United States. The project explicitly decentralized with the mainnet launch in 2021. In the Stacks ecosystem, there are currently 30+ contributing entities including a non-profit Stacks Foundation, a developer tooling company Hiro, Xverse, Trust Machines, Mechanism, Bitcoin L2 Labs, ALEX, Bitcoin Frontier Fund, and more.

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