Why All Crypto ATMs May Soon Pay Royalties to OTC-Listed BULT
- Checkers
- Aug 7
- 3 min read
Cryptocurrency has always faced a fundamental problem: bridging the gap between digital value and real-world, spendable cash. While most people think of crypto as purely digital, the physical infrastructure connecting these worlds is becoming increasingly critical as more and more money pours into the market. Bullet Blockchain, Inc. (OTCID: $BULT) has positioned itself at the center of this transformation as the company that owns the essential patents governing how these machines actually work.
With a market cap just above $23 million and roughly 73 million unrestricted shares outstanding, BULT operates as a Blockchain-as-a-Service company through its wholly-owned subsidiary, First Bitcoin Capital LLC. Their unique position comes from being the only U.S. company holding foundational Bitcoin ATM patents and one of only three publicly traded Bitcoin ATM network owner/operators.
The company's patent portfolio consists of two critical U.S. patents that work together to cover the essential functions of modern, legally compliant Bitcoin ATMs. One patent covers the comprehensive enrollment and security protocols, forming the backbone for the Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance tools required for financial services kiosks. The other covers the core transactional mechanics, including how machines facilitate both buying and selling cryptocurrency and dynamically source liquidity from exchanges when local inventory runs low.
Together, these patents cover the core features an operating and legally compliant Bitcoin ATM in the United States needs. Any entity running a crypto ATM that verifies user identity, processes cash transactions, and connects to exchanges for liquidity potentially falls under the scope of BULT's intellectual property. As Executive Vice President Eric Noveshen stated, “Nearly every operator and manufacturer of Bitcoin ATMs in North America is infringing on our patents and should be paying us back royalties.” This puts BULT in a powerful position as a potential central licensor for an industry in desperate need of the bridge their tech provides.
To capitalize on its position, management is executing a multi-faceted growth strategy. This includes active discussions with national retail operators for a major network expansion, gearing up operations in preparation for a potential 2026 NASDAQ uplisting, and leveraging new and existing partnerships to build out a comprehensive service ecosystem. In fact, the company has already started building this ecosystem through key cybersecurity
and remittance partnerships, which are designed to create multiple revenue streams and make its technology increasingly essential to operators.
The global crypto ATM market is projected to surge from approximately $232 million in 2024 to over $7.5 billion by 2032, with North America commanding roughly 89% of that massive pie . The U.S. market alone is expected to grow at over 60% annually through 2030, creating thousands of new machines that will need the exact compliance and operational functions covered by BULT's patent portfolio. For a company with foundational patents in this space and a current market cap of just over $23 million, the contrast between that and the future market size creates a compelling backdrop for BULT's future.
With foundational patents established, strategic partnerships delivering real results, and a clear execution plan in motion, BULT appears positioned at the intersection of explosive market growth and essential infrastructure control. The company is making moves to be a true ecosystem builder, with a plethora of potential upcoming catalysts including major licensing agreements, revenue recognition from royalty streams, potential national retail partnerships, and possibly completing a major uplist to NASDAQ. By securing one of the core intellectual property legs of this multi-billion-dollar sector, BULT has positioned itself to grow alongside the exploding cryptocurrency market.
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