The Crypto-asset brokerage startup, Voyager, will soon be going public on the TSX Venture Exchange. The company was established as a collective venture between founders of Uber and E*Trade, less than a year ago.
Voyager will take the less-expensive, reverse-merger route of going public; foregoing the pain and hassle of a traditional IPO. The shell company, UC Resources LTD. is a mineral exploration firm that stopped operations in 2015. The deal, valued at $60 million, is set to go through on Monday, the 11th of February, rendering all the Voyager stocks open for trading.
The merged company will rebrand as Voyager Digital (Canada) Ltd. Talking about the big move, the company’s CEO, Stephen Ehrlich stated:
“This is a crucial step for our growing company as we now have a solid capital base with which to grow, expand and continually improve our offering for investors”
Voyager becomes the only “publicly listed” crypto brokerage agency. Talking about the future prospects of the company, the Chief Marketing Officer, Steve Capone, said that with this new achievement, Voyager has opened new possibilities of growth for its shareholders, and the global crypto enthusiasts. Voyager will allow retailers and enterprise clients to trade crypto currencies across different exchanges via a single application. No other application offers the same level of flexibility and seamlessness. Moreover, it is believed that they will not be charging any commissions on the trading.
It will also be easier and safer for prospective clients to trust Voyager, as the obligatory and periodic disclosure of their finances will make them more transparent. There are other companies, like Circle and Robinhood, which also offer zero-commission trading, but none of them have the transparency and growth potential of Voyager.
The stock offering will also benefit the company in many ways. Traditional equity can serve as a brilliant buying tool, and with the increased exposure, Voyager is also bound to attract a lot of new users. As the share count begins to increase, the company can even think about purchasing other budding companies in the crypto industry, and eventually build a strong, widespread empire. In this regard, Ehrlich said:
“We are actively looking for parts of the crypto ecosystem that fit with us, that fit with our mission and our culture. Having cash plus a public currency will make us more efficient and give us more opportunities.”
Even though the platform is currently still in the beta-testing phase, the imminent release will make it more readily accessible. The Voyager application furthers the development of the global cryptocurrency ecosystem by offering the seamless interoperability between multiple exchanges. It solves the age-long problem of having no way to collect intra-exchange liquidity, when an exchange runs out of orders. By providing a way to route orders to liquidity pools across multiple exchanges, Voyager is enhancing the robustness of the global cryptocurrency infrastructure. It’s yet another step in the right direction for the cryptocurrency industry, as it continues to strive to become a more mature, more dependable, more credible, more prevalent economic system.
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