Voyager Digital, a comparatively new cryptocurrency exchange, recently announced that it would go live on the TSX Venture Exchange. Voyager Digital is set to go live after its reverse merger with a shell corporation.
The announcement was made on February 7, 2019. Voyager Digital will make its debut on the Toronto Stock Exchange as a Tier 2 company. The news came after the firm brokered a deal with UC Resources, a shell corporation that has not been in active operation for almost four years. Voyager Digital will trade under the ticker V.VYGR on the TSX Venture Exchange.
Why Is It Such a Big Deal?
The announcement is a significant one in the cryptocurrency community. Voyager Digital will be the first crypto asset broker to be the first to go public on the traditional stock market. While TSX Venture Exchange may not be one of the largest stock brokers in the world, or even in Canada, the company, if successful would show forward movement for the growing crypto asset class.
Cryptocurrency enthusiasts may recall that Voyager was a cryptocurrency brokerage company which previously announced its plan to offer commission free trading through its mobile app. This unique offering would put it on par with trading behemoths in the cryptocurrency sector such as Robinhood.
The exchange is currently open for iOS users in the state of California, Illinois, Massachusetts, Missouri, Montana, Pennsylvania, Kentucky, Wisconsin, and Arizona, according to their blog.
Why is Voyager So Important?
With free trades for 15 popular cryptocurrencies, Voyager Digital’s arrival on the TSX Venture Exchange is definitely a bold statement.
Voyager Digital is led by Uber’s Co-founder and former CTO Stephen Ehrlich. A former E*Trade employee, Ehrlich currently serves as Voyager Digital’s CEO. The company currently offers its services within the U.S. Voyager Digital has plans to extend its services to international waters by the end of this year.
The company’s services are currently in “Public Beta”, where it is offers a $25 Bitcoin credit to early traders. As it only operates within the U.S., the offer is only available to U.S. citizens.
In addition to mobile-trading for cryptocurrencies, Voyager Digital also offers services such as institutional brokerage to its large-scale customers.
The company has cash, talent, and a product that’s tested by public beta users and organizations such as Investopedia. Voyager Digital seeks to bring in revenues by capturing value from the spread between the bid and ask per transaction.
Voyager Digital continues to take action with its recent acquisition of the cryptocurrency wallet, Ethos. The Ethos acquisition will certainly an interesting merger in the decentralized sector.
Voyager Digital will be a cryptocurrency exchange to watch as it continues to add to its platform and opens up for trading later this year.
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