As demand continues to grow for crypto investors to generate invoices with virtual assets, the $1,900 million trading platform Voyager Digital Ltd. is taking a big step forward in the space. Announced today, the publicly traded company acquired Denmark-based crypto payment platform Coinify from an $85 million settlement.
Founded in 2014, Coinify’s cryptographic payments infrastructure allows merchants to settle for virtual assets while receiving invoices in classic currencies. It supports more than 20 fiat currencies and is available in Europe, Asia, North and South America. It also offers an invoice. payment mechanism that allows users to invoice consumers and settle the payment in cryptography.
“Bills are the next frontier,” Stephen Ehrlich, Voyager’s chief executive officer and co-founder at Forbes, said in an exclusive interview before the announcement.
Over the next year, Voyager plans to integrate its systems with Coinify’s payment processing platform to allow consumers to make invoices from their virtual asset accounts, reducing fees related to classic payment infrastructures or chain transactions. As a component of the acquisition agreement, Coinify shareholders will get 5,100,000 newly issued non-unusual Voyager shares and $15 million in cash.
Ehrlich noted that the resolution to win Coinify came when the Voyager team detected a developing call from consumers to make and obtain cryptocurrency tickets, especially in circle’s SOLIDCOIN USDC form. in terms of market capitalization ($27. 25 billion) and is developing faster than the industry leader ($64. 4 billion market cap), which has been plagued by controversy.
“We believe that usdc’s stablecoin is the most productive stablecoin on the market and that consumers need to get bills as a component of it,” Ehrlich said. “We see this vision of bills as the next frontier in addition to trade and investment. “
The Voyager-Coinify merger also comes as Visa and Mastercard, the world’s largest electronic payment networks, expand their encryption business. Mastercard announced in July that it had simplified its procedure for encryption corporations to offer payment cards. The cryptocurrency-related debit card business and this month introduced the first crypto rewards credit card in partnership with cryptocurrency company BlockFi. In some other sign of the USDC’s prospective development in the field of invoices, Visa began accepting stablecoins to settle transactions before this month.
As Coinify integrates into Voyager’s systems, Ehrlich noted that its strategy over the next few months is aimed at expansion as the monetary sector continues to evolve. He also believes that, as a public company with public capital and $200 million in money on its balance sheet, Voyager has merit as it continues to scrutinize the market for potential expansion-oriented long-term acquisitions.
“Today we are two audiences: Coinbase and us,” says Ehrlich. “” I know a lot of other people have said they need to make it public, let’s see how temporarily they get there. We still have that advantage over everyone else in that and we’re going to take the credit and take a look at more M&A transactions, but I think we have other merits as well. We are an agile company, our control team has been in this industry and in the capital markets for a long time, so we perceive acquisitions».