Voyager’s International Director believes this acquisition will accelerate the company’s international expansion.
Digital asset platform Voyager Digital yesterday announced the acquisition of cryptocurrency payment platform Coinify in order to expand its capabilities in the payment and business-to-business payment sectors.
Founded by Wall Street and Silicon Valley entrepreneurs, Voyager offers custody solutions and competitive pricing through intelligent order routing, to facilitate trading and investing in crypto assets for retail and institutional clients.
The number of users of the platform increased by more than 1,400 % in the first half of 2021 and includes many holders of small and medium-sized enterprises. The acquisition will help Voyager offer its customers payment options.
Voyager CEO Stephen Ehrlich explained : ” As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager’s digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy and secure way to make payments from their Voyager accounts. Coinify’s core values of innovation, security and scalability are perfectly aligned with Voyager’s mission to make digital assets accessible worldwide. »
Coinify has been around since 2014 and its API allows processing payments in 15 major cryptocurrencies, as well as settlement of transactions in 20 fiat currencies. Voyager’s Chief International Officer believes that this acquisition will accelerate the company’s expansion in Europe and internationally.
Mark Hojgaard, CEO of Coinify, added : ” We are excited to join Voyager’s exceptional and innovative team, be part of Voyager’s market-leading offerings, brand and community, and rapidly grow merchants using Coinify’s payment processing technology. This combination positions Voyager as the go-to choice for businesses and individuals looking for an efficient transaction vehicle for a wide range of purchases worldwide. »
The agreement provides for the issuance of 5.1 million new common shares of Voyager Digital Ltd to Coinify shareholders, with $ 15 million in cash also being part of the consideration.
The price of Voyager’s VGX utility token jumped after the announcement and rose 23 % in the last 24 hours.