Voyager Digital, Market Rebellion Launching App Allowing Traders To Buy And Sell Stocks Using Cryptocurrency

Voyager Digital Ltd VYGVF shares gained 7.3% on Wednesday after the company announced a major partnership deal.

What Happened? Voyager Digital is partnering with Market Rebellion to launch a new online brokerage for equities, options and futures. Voyager and Market Rebellion will jointly fund and operate the business and said they plan to scale it “aggressively.”

Why It’s Important: Voyager is the parent company of licensed cryptocurrency trading and investing brokerage subsidiaries, and Market Rebellion is a leading online provider of investing tools, education and other content.

Voyager and Market Rebellion have previously partnered to provide Market Rebellion members access to Voyager’s crypto trading services. Market Rebellion also has an equity stake in Voyager.

In a press release, Voyager said its customers will be able to use the Voyager App to trade equities using cryptocurrencies as their base currency. In the future, the company plans to add option and futures contract trading as well.

Related Link: Oakland A's First MLB Team To Sell Tickets For Bitcoin

"Our mission is to empower the independent investors we serve with the best trading tools and insights available. This alliance with Voyager is doing just that - giving our members the ability to take advantage of the same cross-trading opportunities as Wall Street professionals,” said Market Rebellion co-founder Jon Najarian.

On Monday, Voyager reported $3.3 billion in assets under management and 130,000 new customer accounts in the month of April. The company also said it plans to add additional alternative cryptocurrency trading within the next 60 days amid a surge in volume in altcoins.

Voyager already supports trading more than 50 top cryptocurrencies, including Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD.

Benzinga’s Take: Voyager investors will be watching to see if the new joint venture between Voyager and Market Rebellion is officially approved by FINRA. In addition, cryptocurrency investors are hoping additional trading apps integrate more support for traders to use crypto as their base currency.