Coinify, a crypto payment platform, has been purchased by Voyager as part of the company’s strategic strategy to offer digital asset payments globally.
In a deal for over $84 million, cryptocurrency broker Voyager Digital Ltd bought Coinify ApS, a crypto payment system.
Voyager’s development into Europe will be accelerated by Coinify’s integration, allowing the company to fulfill market demands and sell its products globally.
Making Digital Assets Globally Accessible
The purchase is split between stock and cash, according to the statement. Investors in Coinify will get 5.1 million Voyager shares worth $69 million, with the remaining $15 million paid in cash. The agreement comes after the broker chose to add a worldwide payment infrastructure to its digital environment to increase its 1.75 million customer base.
“Coinify’s core values of innovation, security, and scalability are perfectly aligned with Voyager’s mission of making digital assets accessible throughout the world,” said Stephen Ehrlich, CEO, and founder of Voyager.
As part of the agreement, 1,500,000 shares will be frozen and may only be sold 30 days after both parties have concluded the sale. On Coinify’s balance sheet, Voyager will keep $5.5 million in cash.
According to the announcement, the purchase should broaden Voyager’s product options to additional regions in addition to the European market. Coinify’s virtual payment platform is available in several Asian, North American, and South American nations.
Coinify also supports payment processing in bitcoin (BTC) and over a dozen other digital currencies and transaction settlements in 20 fiat currencies.
Small and medium-sized businesses can now use cryptocurrency.
Voyager claimed that crypto payments are the company’s next move, adding that it would provide crypto usage to its consumers and small and mid-sized enterprises. As crypto use grows, the business says it’s time for the broker to join the trend and incorporate a quick, inventive, and efficient platform.
According to Mark Hojgaard, CEO of Coinify, the combination puts Voyager as the go-to solution for businesses and people seeking an efficient transaction vehicle for a wide range of worldwide purchases.