Bitcoin Well, a technology company, building and utilizing products that offer safe and easy ways to buy, sell and use bitcoin, recently announced the growth of their partnership with RapidCash ATM Ltd., a partnership offering further benefits following their acquisition of Ghostlab Inc., which closed on September 13, 2021. After initially installing the Ghostlab software on its first ATM in December of 2020, RCAL subsequently deployed a total of 43 ATM kiosks with their ghostATM software (proprietary Bitcoin ATM software), the majority of which were recently installed. These ATM kiosks have since generated Bitcoin sales of over $565,000 for the RCAL Bitcoin ATM Partner network, which the company operates.
On November 16, 2021, RapidCash announced an exclusive partnership with Canco Petroleum Ltd. that further expands on the existing ATMs deployed. Through the Canco partnership, RCAL intends to deploy over 100 RCAL ATM kiosks into Canco’s retail convenience stores across Canada. These kiosks will be equipped with ghostATM, and under the terms of the Company’s existing exclusive relationship with RCAL, the company will operate the newly installed BTC ATM software, which is expected to provide incremental revenue with zero capital outlay.
“Our strategic partnership with Bitcoin Well allows us to offer crypto and BTC as an application on our appruv Kiosk line in an easy to use interface without managing the complexities of this space,” reports Bill Eaton, President of RapidCash ATM Ltd. “We look forward to collaborating with the highly talented group at BTCW on existing and market needed applications.”
“The arrangement between RCAL and Canco further demonstrates the opportunity Ghostlab provides to Bitcoin Well, as we can exponentially expand our reach without incurring the high capital costs associated with organic growth,” said Adam O’Brien, Founder and CEO of Bitcoin Well. “Our unique partnership approach with RCAL offers Bitcoin Well exposure to a whole new customer base to support continued growth, revenue enhancement and margin expansion.”