In the conventional banking sector, the ATM networks are generally part of banks, except for few independent ATM service providers who are not particularly associated with any bank. However, things have been different in the digital currency sector where Bitcoin ATM providers do not generally have affiliations with any particular Bitcoin exchange. But as Bitcoin exchanges and other service providers look for ways to diversify their product offerings, things are now being done differently by the companies.
In a recent move, Athena Bitcoin, a Bitcoin ATM service provider has acquired BitQuick, a digital currency exchange startup. Athena has made its move to acquire this startup after it was shut down due to cyber-attacks. As it was not clear whether BitQuick was temporarily offline or not, we can expect that Athena Bitcoin managed to acquire BitQuick for a much lesser price than it would have claimed otherwise. Neither Athena Bitcoin, not BitQuick has made the terms of sale public yet. However, according to Jad Mubaslat, one of the founders of BitQuick, there won’t be any changes made to the company except for the funding part.
BitQuick, under Athena Bitcoin, is expected to continue operating the way it has been operating all these days. The COO and co-founder of Athena Bitcoin was quoted by one of the well-known bitcoin news publication saying that the company is more interested in BitQuick mainly because of the team and how they have been handling the business so far.
The founders of BitQuick have also been very forthcoming about the security concerns following the hack. Security threats are common for bitcoin platforms, and BItQuick is no different. As long as the platform is successful in protecting their customers’ assets there should be no problems at all and BitQuick has played that part right so far. However, what’s in store for BitQuick under Athena Bitcoin is something worth looking forward to.