Voyager Digital Ltd., a crypto asset trading firm has arranged to acquire Coinify for $85 million in cash and stock.
Coinify is a Denmark-based crypto payment platform that was founded in 2014. Its crypto payments infrastructure allows merchants to accept digital assets while receiving payments in traditional currencies. It supports more than 20 fiat currencies and is available in Europe, Asia, North America, and South America.
In a statement on Monday, the company announced that it would issue 5.1 million shares of its stock to Coinify investors and also $15 million in cash. According to the agreement it would retain $5.5 million in cash in Coinify’s Balance Sheet.
The acquisition of Coinify helps Voyager in expanding its capabilities and providing crypto users access to cross-border payments. Voyager co-founder and CEO Stephen Ehrlich said:
“As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager’s digital asset ecosystem”.
It further added, “We believe the USDC stablecoin is the best stablecoin on the market and that customers want to receive payments in that”.
The price of Voyager Token has increased considerably from $0.5 on Jan 1 to $6.97 in February, after it announced many acquisitions and mergers. The price of Voyager Token has increased by more than 3% since it announced its acquisition of Coinify.