Voyager Digital acquires Coinify for $85 million
Voyager Digital announced today that it has agreed to buy Coinify, the purchase will help Voyager in expanding its capabilities, potentially providing more cross-border payment choices for crypto consumers around the world.
Voyager announced on Monday that it would issue 5.1 million shares of its stock, valued at around $70 million at the time of writing, as well as $15 million in cash to Coinify investors. Coinify's financial sheet will be retained for $5.5 million, according to the business.
The purchase of Coinify is intended to assist Voyager in expanding its capabilities, potentially providing more cross-border payment choices for crypto consumers around the world.
Voyager has been available across Europe, Asia, North America, and South America since its public listing in Canada in 2019, according to Coinify.
“As cryptocurrency payments become more widely accepted, the purchase of Coinify adds a worldwide payment infrastructure to Voyager's digital asset ecosystem,” stated Stephen Ehrlich, co-founder and CEO of Voyager.
The price of Voyager Token (VGX) soared in January when the company announced a slew of acquisitions and mergers, jumping from around $0.15 on January 1 to $6.97 in February.
The price of VGX is $2.49 at the time of writing, up more than 3% since the announcement of the Coinify acquisition.
