Voyager Digital acquires payments company Coinify

Karthik Subramanian

Voyager Digital, a publicly-traded crypto platform in the US, has announced the acquisition of the payments processing company Coinify in a deal that is reported to be worth more than $80 million.

Coinify has clients in over 150 countries who use its platform to send cryptocurrency payments. The acquisition is expected to help Voyager in growth and expansion across many regions as it would enhance the capability of the platform to enable users to send payments via their digital asset accounts.

“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.”

The deal is a mix of share purchase and cash as well and it is expected that it would help Voyager get a gateway into regions like Europe, Asia, and the rest of the Americas. The payments industry is expected to grow in a fast and string manner in the coming months with businesses and users shifting towards digital payments rather than cash. Crypto payments are expected to get a boost in this scenario and Voyager becomes one more institution that has taken a plunge into this space that is expanding.

“We are excited to join the outstanding, innovative team at Voyager, and become part of Voyager’s market-leading offerings, brand, and community, and to rapidly grow merchants utilizing Coinify’s payment processing technology,” stated Mark Hojgaard, CEO and Co-founder of Coinify. “The combination positions Voyager as the go-to choice for businesses and individuals seeking an efficient transaction vehicle for a wide range of purchases globally.”

Coinify helps with payments processing in 15 major cryptos and offers transaction settlement in more than 20 fiat currencies and this acquisition would help Voyager to make a big splash in the payments industry as cross-border payments can be made by its users through the platform using cryptos and fiat as well and this is likely to give a huge boost to its transaction volumes in the coming months

Read this next

Digital Assets

CrossTower acquires BEQUANT to help crypto industry reset and consolidate

“We are stabilizing an industry with incredible promise; regaining trust; and rebuilding the future of finance.”

Retail FX

Plum launches crypto offering for EU residents

Plum has added crypto investing to its range of investment options in France, Belgium, Spain, and Ireland. Residents there will be able to buy and sell cryptocurrencies in their app with just a few taps, via services provided by Bitpanda.

Retail FX

FX/CFD and Crypto broker Quantfury launches fractional trading of stocks, ETFs, commodities

“Quantfury is advancing its unmatched trading and investing conditions further by making it even more affordable to Quantfurians out there. Fractional trading mode opens up more trading opportunities to the Quantfury global audience of more than 400,000 Quantfurians.”

Industry News

SEC awards $20 million to whistleblower despite degree of culpability and reporting delay

The Securities and Exchange Commission has awarded a whistleblower with $20 million for providing new and critical information that led to the success of an enforcement action.

Institutional FX

Tradesmarter’s white label WOW TRADER integrates with TradingView

Tradesmarter’s white label trading platform solution WOW TRADER has integrated with TradingView, the high performance and mobile friendly charting tool.

Industry News

ASIC loses fee overcharging case against Commonwealth Bank of Australia

“ASIC pursued this case because we believed CBA did not have robust compliance systems to ensure customers were being correctly charged. ASIC will carefully consider the judgment and continue to work to ensure large financial institutions charge fees correctly and put their customers first.”

Digital Assets

Kraken pays $362K fine for onboarding Iranian users

Cryptocurrency exchange Kraken will pay $362,158 to settle its civil liability for apparent violations of US sanctions on countries like Iran, the Treasury Department’s Office of Foreign Assets Control said.

Digital Assets

Bankrupt lender BlockFi owes $275 million to FTX.US

Distressed crypto lender BlockFi has filed for Chapter 11 bankruptcy protection, nearly two weeks after halting withdrawals of customer deposits due to significant exposure to bankrupt exchange FTX.

Metaverse Gaming NFT

Astar Network powers WASM smart contract devs with Swanky toolkit

Blockchain innovation hub Astar Network is launching Swanky, an all-in-one tool for smart contract developers that bridges the elements of WebAssembly (WASM) ecosystem into a single interface.

<