In a press release published on 2 August, Voyager announced it has acquired Coinfy, a cryptocurrency payment processing platform, enabling it to expand to global markets and enter into the payment space. The acquisition will allow Voyager customers to make payments directly from their digital asset accounts.
Under the terms of the share purchase agreement, Coinify shareholders will receive 5.1 million newly issued shares of Voyager Digital common stock and $15 million in cash. As part of the agreement, Voyager will retain $5.5 million of cash on the Coinify balance sheet and all current Coinify employees.
Voyager said that payments will be the next big step in its growth, given the fact its user base grew over 1,400% in the first half of 2021. The company plans to provide payment options to its customers, many of which are small to midsize business owners.
Acquiring Coinify will enable the company to provide an established and effective gateway to the crypto payments industry. Coinify’s global enterprise services include individual payment processing in 15 major cryptocurrencies and transaction settlement in 20 fiat currencies via their easy-to-integrate Coinify API.