Crypto-broker Voyager comes to the stock market.

[Paha87]

Voyager, the crypto-currency brokerage startup founded by veterans of Uber and E * Trade, out on the canadian TSX venture exchange through a reverse merger in the amount of $ 60 million.

A reverse merger occurs when a private company acquires most of the shares of a publicly traded company and the two firms merge. In this case, new York-based Voyager Digital Holdings acquired UC Resources Ltd. that is a shell company for exploration of minerals, which ceased its activities in 2015, within the framework of the acquisition of shares, concluded earlier this week.

Announced Wednesday, the combined company, renamed Voyager Digital (Canada) Ltd., will begin trading on February 11 at TSX, a subsidiary of TMX Group, the parent company on the Toronto stock exchange.

Stephen Ehrlich, Voyager's co-founder and CEO, said the possibility of issuing shares traded on the stock exchange would give his company a currency (in a figurative sense) with which to make acquisitions to build its nascent business.

Erlich, who led eight acquisitions as CEO of Lightspeed Financial, an online brokerage firm, and has previously been in the professional trading business. E * Trade, said:

We are actively looking for those parts of the crypto ecosystem that fit us, that fit our mission and our culture. The availability of cash and government currency will make us more efficient and give us more opportunities.

Voyager, who first announced its plan to allow zero-Commission cryptocurrency trading for retail investors in the US last summer, quietly raised about $ 7 million from undisclosed investors in a series of private rounds starting in may, marketing Director Steve Capone said. According to Ehrlich, the last round valued the company at $ 60 million, so that's the value of the shares it paid for the shell company.

In addition to Erlich's securities veteran, the company's founders are Oscar Salazar, founder architect and technical Director of Uber.

In addition to mergers and acquisitions, Ehrlich said that the inclusion of the listing company will assist the Voyager to win the trust of customers, since it will have quarterly and annually to disclose their financial data and to respond to the canadian securities regulators. He added:"it increases trust and transparency for customers and they can trust us."

However, this is not the first cryptographic firm to publicly respond to the reverse merger of TSX. Most notably, the Galaxy Digital Holdings, cription, founded by Michael Novogratz, has done in the past year through acquisitions of pharmaceutical companies listed on the stock exchange.

Link - https://altstake.io/news/kripto-broker-voyagervyhodit-na-fondovyy-rynok