Crypto-asset buying and selling agency Voyager Digital has organized to buy funds firm Coinify in a deal value $85 million in money and inventory.
In a Monday announcement, Voyager mentioned it might difficulty 5.1 million shares of its inventory — value roughly $70 million on the time of publication — in addition to present $15 million in money to Coinify buyers. The corporate mentioned it might retain $5.5 million in money from Coinify’s stability sheet.
The acquisition of Coinify is geared toward serving to Voyager develop its capabilities, probably giving crypto customers all over the world extra choices for cross-border funds. Voyager has been publicly listed in Canada since 2019, whereas Coinify mentioned it was presently out there in Europe, Asia, North America and South America.
“Because the adoption of cryptocurrency funds beneficial properties momentum, the acquisition of Coinify brings a world cost infrastructure to Voyager’s digital asset ecosystem,” mentioned Voyager co-founder and CEO Stephen Ehrlich.
Associated: Voyager Digital sees 16x enhance in quarterly income, first working revenue
The worth of Voyager Token (VGX) surged considerably in January as the corporate introduced many acquisitions and mergers, rising from roughly $0.15 on Jan. 1 to a yearly excessive of $6.97 in February. On the time of writing, the worth of VQX is $2.49, having risen greater than 3% for the reason that announcement of the Coinify acquisition.