Bitcoin brokerage Voyager to enter digital payments Sunday in $ 85m acquisition

Voyager Digital Ltd.. it has acquired Danish crypto payment app Coinify, one of the fastest growing crypto brokerage companies, to expand into the digital payments sector. The growing demand for crypto payments and the success of existing companies in space have pushed Voyager to enter the payments Sunday, and Coinify could help a $ 1.9 billion crypto brokerage firm do so.

“We think payments are the next limit,” said Voyager CEO and co-founder Stephen Ehrlich.

Voyager aims to integrate Coinify’s payment infrastructure into its existing platform next year, enabling customers to pay directly from their accounts. This will not only reduce the need for an external payment processor, but also reduce high transaction costs on traditional payment platforms.

As a result of the deal, Voyager will pay Coinify’s existing shareholders 5,100,000 of Voyager common shares and $ 15 million in cash.

Coinify is a built-in crypto payment gateway that allows traders to accept crypto payments and deposit money in their own fiat. The services are available in Europe, Asia, North America and South America with the option to withdraw in 20 different Fiat currencies.

Cryptocurrency payment services are in high demand
Ehrlich, CEO of Voyager, discovered that this decision was based on the growing demand for crypto payments from customers. He also said demand for stable coins, particularly those issued in the US, was quite high. He explained,

“We believe the USDC stable coin is the best stable coin on the market and customers want to get paid,” says Ehrlich. “We see this payout vision as the next frontier in trade and investment.”

The acquisition of Voyager Coinify comes at a time when major payment processing giants such as PayPal, Mastercard and Visa are expanding their crypto business amid growing demand. Demand for payment or analytics related crypto services has increased significantly in these countries

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