Voyager Acquires Cryptocurrency Payments Gateway Coinify

What Happened: Crypto-asset platform Voyager Digital Ltd VYGVF acquired cryptocurrency payments company Coinify ApS.

The company said it would issue 5.1 million shares of stock, and pay cash to Coinify investors. Additionally, Voyager said it would retain $5.5 million in cash from Coinify’s balance sheet.

“As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager’s digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy, and secure way to make payments from their Voyager accounts," said Stephen Ehrlich, CEO, and Co-Founder of Voyager.

“Coinify’s core values of innovation, security, and scalability are perfectly aligned with Voyager’s mission of making digital assets accessible throughout the world.”

Why It Matters: Voyager, in a move to provide retail and institutional investors turnkey solutions to trade crypto assets, offers execution, data, wallets and custody.

With the Coinify acquisition, Voyager will be able to expand on its offer and tap into an established crypto payments gateway available in Europe, Asia, North America and South America.

Lewis Bateman, Voyager’s Chief International Officer said, “The acquisition of Coinify will greatly accelerate our expansion into Europe and help us meet the growing demand for our current product offering internationally.”