Earlier this week, Voyager Digital Canada (VYGR.C) penned an agreement to acquire retail digital asset business, Circle Invest, from its parent company, Circle Internet Financial.
Adding Circle Invest to their portfolio opens Voyager’s customers to expanded digital assets and new investment and trading features from the Voyager suite of products. Voyager also intends on integrating features of Circle’s new stablecoin service into the Voyager platform.
“This product line acquisition signifies a tremendous development for Voyager as we welcome a substantial number of new users to our platform. This transaction also helps us deliver on our promise to investors, providing regulated brokerage services and resources to as many users as possible in the digital asset marketplace. Going forward, we remain committed to building best-in-class features for the Voyager Platform to empower investors and bring into the mainstream the most revolutionary asset class to date,” said Stephen Ehrlich, co-founder and CEO of Voyager.
This acquisition is the latest in a series for the company, which has been shoring up its own platform for awhile now. Last month they completed their acquisition of VYGR Digital Securities, a placement agent for digital securities for the Voyager platform. Before that in December, it was Optional Hotline, a publishing company that offers trade ideas from options professionals in real-time to subscribers and third party contributors through an in-house trade alert service. The company also formed six API distribution partnerships with Avant-Garde Trading Securities, RoundlyX (Coin Savage, LLC), Market Rebellion, LLC, Sterling Trade Tech, Tiger Trading and Stocktracker.
This purchase adds more than 40,000 retail accounts to Voyager’s customer base, which now extends to include more than 200,000 global users across all of its platforms. The conversion of Circle Invest customers to the Voyager Platform is ongoing, and expected to be finished by the end of March.
Their platform was created as a turnkey solution for trading in cryptocurrencies. It offers non-commissioned based trading, and safe custody and education on a wide range of cryptos. Now Circle’s former customers will get access to Voyager’s brokerage services, which includes commission-free trading of more than 30 crypto assets, lock-up free interest yield on the most popular coins, digital transfers, secure omnibus custody wallets and portfolio management tools like buy baskets of assets grouped according to attributes and weighted to their market caps.
A few of the coins offered include:
- Bitcoin (BTC),
- Ethereum (ETH),
- Bitcoin cash (BCH),
- Bitcoin SV (BSV),
- Ethereum classic (ETC),
- Litecoin (LTC),
- Zcash (ZEC),
- Monero (XMR),
The company offers three ways to invest:
By the coin, in which you choose your favourite coin and buy it from your phone. Through a collection, wherein you can choose from platforms, payments, privacy or the market, and the investment is divided across all coins in the bundle based on market cap. Lastly, scheduled buying, wherein you can choose which day, week or month from any coin or collection.
Circle and Voyager will provide fast, global, low-cost payments to the combined Voyager base. Also, Voyager will use Circle’s USDC and products to reinforce their treasury management infrastructure and international expansion.
“This transition comes at a time when Circle is launching new platform services and products for businesses around the world to help them bring the benefits of stablecoins into their products and grow global commerce in new and innovative ways,” said Rachel Mayer, Director of Product Management at Circle.
Voyager will issue common shares to Circle representing an approximate 4% ownership stake in the Company, post-closing, and reimbursement of certain costs incurred by Circle.
—Joseph Morton