Cryptocurrency broker Voyager Digital announced the acquisition of payment company Coinify for $15 million in cash and 5.1 million of its own shares worth about $69 million.
Today marks a huge milestone for @investvoyager & its community 💪
We officially acquired Coinify, a crypto payment platform with a global user base in over 150 countries. This will fast-track us into the crypto payment space across the globe.
Read more: https://t.co/5qO6SAlisy
— Voyager (@investvoyager) August 2, 2021
About 3.28 million of the 5.1 million shares will be restricted from sale for 12 months or until the TSX-listed broker lists on Nasdaq.
The deal will accelerate Voyager Digital’s international expansion thanks to Coinify’s presence in the United States, Europe and Asia. The broker will retain $5.5 million in cash on the payment company’s balance sheet.
Earlier in 2021 Voyager Digital financed the appearances of driver Landon Cassill in the remainder of the NASCAR Cup Series season. The sponsorship contract covers 19 races — payment will be in cryptocurrency.
As reported in August, Square announced the repurchase of all Afterpay securities of the Australian buy-now-pay-later service for $29 billion in its own shares.
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