Voyager Digital Acquires Leading Crypto-Payment Platform Coinify

By Mansi Singh
Published August 2, 2021 Updated August 3, 2021
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Voyager Digital Acquires Leading Crypto-Payment Platform Coinify

By Mansi Singh
Published August 2, 2021 Updated August 3, 2021

Today, Voyager Digital Ltd., the publicly traded cryptocurrency platform in the United States, has announced the acquisition of Denmark-based crypto payment platform Coinify in an $85 Million agreement. As part of the deal, Coinify shareholders will be provided 5,100,000 newly allocated shares of Voyager common stock and $15 million in cash.

Today Marks A Huge Milestone For Voyager

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The $1.9 Billion valued trading platform Voyager Digital Ltd. (CSE: VYGR), (OTCQX: VYGVF) has made a big push into the crypto space today by acquiring Coinify in an $85 Million integration deal. The acquisition is anticipated to bolster the company’s global expansion and fast-track its growth in the business-to-business payment space. Furthermore, the integration deal will enable the company’s consumers to make payments instantly from their digital asset accounts. However, this would happen in late 2022’s according to the company.

Notably, Coinify’s crypto payment services permit consumers to accept digital assets payments. Furthermore, the platform supports over 20 fiat currencies and is currently available across North America, South America, Europe and  Asia. 

CEO’s on Coinify Integration With Voyager 

As Coinify joins forces with Voyager, respective company CEO’s showed up and shared their opinions on the massive integration step.Stephen Ehrlich noted Voyager’s vision of expansion across the financial industry. He also believes that being a public business with public equity and $200 million cash on its balance sheet, the firm has got an upper hand in the marketplace for potential growth-oriented integrations in future. 

Mark Hojgaard, CEO and Co-founder of Coinify also expressed the team’s excitement and how Coinify is eager to work in collaboration with the ‘innovative team’ of the acquirer. Hojgaard further stated that Voyager is also a super efficient transaction vehicle for individuals and businesses that do a wide range of purchases globally on a daily basis.

Experts speculate that the tie-up can bring expansive growth to both the companies in various sectors. They also note that the acquisition appeared right after Visa and Mastercard started to build their crypto divisions, which makes the company’s strategy of worldwide expansion crystal clear to competitors. Reportedly, Mastercard declared the launch of its crypto payment cards. Likewise, Visa inaugurated the crypto rewards credit card in partnership with crypto firm BlockFi in July. And now, Voyager has also included it’s name in the list of major crypto-service provider firms.

 

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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