Voyager Digital acquires payments company Coinify
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