Cryptocurrency brokerage startup, Voyager has recently announced that it’s going public on Canada’s TSX Venture Exchange. The Veterans of Uber and Etrade launched and fully operated on this brokerage company as well. The startup will go publicly live through a reverse merger valued to be at $60 million
Plenty of other business has used the reverse merger strategy to go public instead of participating in an IPO. BiThumb was one of the many companies that entered into a reverse merger with Blockchain Industries to go public in the US just last month. However, reverse mergers are gaining traction at the current moment.
Voyager will be its trading during February 11th. The brokerage startup decides to enter a reverse merger with an inactive mineral exploration firm by the name of UC Resources LTD. The merged entity changed its name to Voyager Digital (Canada) Ltd. This recent deal concluded as of February 7th with Voyager co-founder and CEO Stephen Ehrlich commenting:
“This is a crucial step for our growing company as we now have a solid capital base with which to grow, expand and continually improve our offering for investors”
He further exclaimed that the merger will enhance transparency to Voyager’s clients through the mandatory periodic disclosures of their financials. The disclosures are the terms and condition placed by the Canadian securities regulators for all companies trading in the sphere of their jurisdiction.
Voyagers plan to go live during the fourth quarter lead to it being postponed. The firm’s CMO Steve Capone alleged that their current waiting list has already reached ” the six figures” range. The startup has also decided to offer $15 in bitcoin for initial retail customers to make early sign-ups even more welcoming. The platform’s launch is scheduled for sometime during this month.
Ehrlich stated that the capability to issue publicly traded shares will provide the company with much-needed currency. They will then utilize said currency to make strategic acquisitions to make a nascent business He further elaborated,
“We’re actively looking for parts of the crypto ecosystem that fit with us, that fit with our mission and our culture. Having cash plus a public currency will make us more efficient and give us more opportunities.”
The business also plans to offer zero-commission crypto trading to retail investors. More so, they’ll allow retail and institutional investors trade cryptos across many exchanges utilizing a single mobile app account. A smart order routing system will provide mobile users with the best prices available for them.