Cryptocurrency broker Voyager to buy payments company Coinify for $84m
Cryptocurrency broker Voyager Digital has announced it will buy payments company Coinify for $15m in cash and 5.1m of its own shares worth around $69m.
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.
About 3.28 million of the 5.1 million securities will not be available for sale for 12 months or until the Canadian-listed broker goes public on the Nasdaq.
The deal will accelerate Voyager Digital's international expansion through Coinify's presence in the US, Europe and Asia. The broker will keep $5.5 million in cash on the payment company's balance sheet.
Earlier, Voyager Digital funded driver Landon Cassilla's performance in the remainder of the 2021 season of the NASCAR Racing Series. The sponsorship contract is for 19 races - he will be paid in cryptocurrency.
As a reminder, Square announced in August that it was buying all of the Australian installment service Afterpay's securities for $29bn worth of its own shares.