Voyager Digital buys Circle Invest to expand retail customer base
Category: #retail  By Saipriya Iyer  Date: 2020-02-14
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Voyager Digital buys Circle Invest to expand retail customer base

Voyager Digital Canada Ltd. – a digital wealth management firm based in New York, United States has reportedly signed an agreement to purchase Circle Invest- a digital asset management subsidiary of Circle Internet Financial, Inc.

For the record, the transaction leads to the addition of over 40,000 retail accounts to the customer base of Voyager, which now delivers services to more than 200,000 users across the globe, making it a leading digital-asset-only agency broker across the U.S. 

The transaction renders Circle Invest customers the right to expand digital assets and novel trading and investment features from the Voyager range of products and services.

Reportedly, Circle’s retail customers of Invest will gain access to the unique brokerage services by Voyager Digital Canada which comprises of commission-free trade for over 30 crypto assets, digital transfers, lock-up free interest yield on popular coins, portfolio management systems like news, alerts and orders and secure omnibus custody wallets.

The “collections” feature of Circle Invest has gained popularity since it permits consumers to acquire baskets of assets combined with their attributes and weighed as per their market capitalization. This feature is set to be mixed into the Voyager platform and will help investors in gaining access to superior class of assets of the last decade along with maintaining a diversified digital portfolio.  

Apparently, the two companies will partner on strategic business projects, like providing superior, low-cost, global payment methods to the combined Voyager consumers. Moreover, Voyager will control the platform products and Circle’s USDC with an aim to strengthen its treasury management infrastructure and expand its footprint.   

As per the agreement, Voyager will provide common shares to Circle, which would represent nearly 4% ownership share in the company, post-closing, and refund of certain costs met by Circle.  

Founded by recognized Silicon Valley and Wall Street magnates, Voyager Digital Canada Ltd. is a prominent crypto-asset broker that provides the institution and retail investors with the option to trade crypto assets.

 

Source Credits: https://www.prnewswire.com/news-releases/voyager-to-acquire-circle-invest-retail-digital-asset-business-from-circle-internet-financial-301003521.html



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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