Voyager Digital will enable users to earn 8.5% interest on their USDC deposits, the company announced on Thursday. Along with that, Voyager will be adding support for Algorand Standard Assets (ASA), which will be traded on the platform with the transaction speed and “guaranteed finality” of the Algorand protocol.
Voyager has also entered into a strategic agreement with Circle Invest, the company behind USDC, to acquire its retail digital asset business and become one of the largest digital asset agency brokers in the United States.
In addition to adding support for ASA, Voyager will also develop USDC payment rails on Algorand, allowing investors to buy, hold, trade, and self-custody their USDC, ALGO, and ASA. According to the announcement, the integration of Algorand will make USDC transactions more efficient and less costly, while also bringing “interest-bearing” benefits to customers.
This new collaboration is intended to increase the robustness of the Algorand ecosystem and the Voyager Platform while contributing to the growth of the DeFi space. Sean Lee, CEO of the Algorand Foundation, said that Voyager will match its app-based service with the speed and flexibility of USDC on Algorand to create “a greater experience” for their community.