Borse Frankfurt: UCD2
- Voyager to assume direct control of Regulated French Entity, LGO SAS, expediting Voyager's ability to deliver its core services to European customers -
- VGX and LGO token holders to swap into a newly minted decentralized finance VGX token -
NEW YORK, Oct. 22, 2020 /PRNewswire/ - Voyager Digital Ltd. ("Voyager" or the "Company") (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), a publicly traded, licensed crypto-asset broker that provides investors with a turnkey solution to trade crypto assets, today announced it has merged its European operations into LGO, SAS, an AMF regulated entity in France. Voyager will obtain direct control of the regulated entity which will allow the Company to expedite its European strategy.
"Voyager's partnership with LGO provides an exciting platform for Voyager to expand into Europe, leveraging Voyager's model to engage in fully compliant businesses in well-regulated jurisdictions", said Steve Ehrlich, Co-founder and CEO of Voyager. "Voyager has been planning its European expansion for some time and when the opportunity to work with Hugo Renaudin and his team presented itself, we determined it was the right path to increase Voyager's global footprint." Mr. Ehrlich continued, "Working with a fully regulated entity has always been our preferred path. Regulation helps to give customers the comfort they need as it ensures the safety and security of their assets."
Voyager's agency brokerage platform currently provides United States customers with an easy-to-use platform that offers customers access to over 50 crypto assets plus interest on over 17 assets. Users can download the app from the Google or the Apple App Store, and can start investing within minutes.
As part of the merger, the next version of the Voyager token will be minted, which will allow holders of the VGX and LGO token holders to swap into the new token. The holder ownership percentages will be commensurate with the existing fully diluted market caps of the tokens. The new token will include decentralized finance features such as community governance, as well as advanced utility including staking with an initial 7% interest, cash back rewards on trading on the Voyager platform, debit card benefits, interest boosters, reduction of withdrawal fees and more, all on a global basis. The token swap is anticipated to happen before the end of 2020 and more details will be released in the near future.
"We are excited to create an improved token to bring greater utility to our loyal community. Historic holders of VGX have benefited from our rewards programs and interest boosters available. Now with the new coin, holders will enjoy additional features over time," stated Mr. Ehrlich.
The transaction is subject to regulatory approval and traditional closing conditions which should be completed by year end. At closing, Voyager will issue approximately 1mm shares to the LGO shareholders.
Just recently, Voyager announced the formation of its OTC desk for Institutional and Corporate Treasury Business as well as its advisory relationship with NBA Hall-of-Famer Tracy McGrady.
For more information on Voyager Digital, please visit https://www.investvoyager.com.
About Voyager Digital Ltd.
Voyager Digital Ltd. is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers best execution and safe custody on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent and cost-efficient alternative for trading crypto-assets to the marketplace. Please visit us at https://www.investvoyager.com for more information and to review the latest Corporate Presentation.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.
Cautionary Statement Regarding Forward-Looking Information: The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise it to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.
SOURCE Voyager Digital (Canada) Ltd.