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The deal is still subject to regulatory approval. Shares of Voyager fell 2.3% to 0.56 Canadian dollars (The other part will depend on the value of the merged in-house crypto token, which, according to reports, will feature “decentralized finance functions such as community governance and staking at an initial interest rate of 7%.”
Voyager chief executive officer, Hugo Renaudin, was quoted as saying:
LGO will cease to concentrate on institutional investors on Oct. 31, as it simultaneously assumes the Voyager brand. To complete the acquisition, Voyager will issue one million shares, whose value will, in part, determine the ultimate deal price.
Crypto-asset broker Voyager Digital Ltd is buying LGO Markets, a French cryptocurrency exchange focused on corporate investors. The two firms will merge under one brand, Voyager, and their two separate native tokens, VGX and LGO, will also merge.
LGO touts itself as a “leading” crypto exchange for institutions, which provides “customizable services, best in class technology, and deep liquidity.” The platform caters to businesses “looking to buy/sell or lend/borrow digital assets.”
The deal grants Voyager, a Canadian Securities Exchange-listed (CSE) firm, access to the European retail market through LGO’s Virtual Asset Service Provider licence held with the French financial regulator, industry media reports.
He added that the “new token will have more utility”, to the benefit of token holders in the U.S., Europe and elsewhere.
The post Voyager Digital Buys European Crypto Exchange Focused on Institutional Investors appeared first on Bitcoin News.
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