Voyager Cryptocurrency Broker Acquires Ethos’ Assets
Voyager Digital Canada Ltd., a cryptoasset broker that claims to offer users commission-free investments, has completed the acquisition of some assets of Ethos, a people-powered distributed ledger technology (DLT) platform, and cryptocurrency wallet. The deal will also enable Ethos founder and CEO Shingo Lavine to join Voyager as Chief Innovation Officer, reports Financial Post, October 2, 2019.
Voyager Takes Over Ethos
Voyager Digital Canada Ltd., a cryptocurrency brokerage firm founded by established Wall Street and Silicon Valley entrepreneurs, to provide both retail and institutional investors with a turnkey solution for bitcoin trading, has acquired certain assets of Ethos.io, taking the existing relationship of both firms, a step further.
Per sources close to the matter, Voyager has announced the successful acquisition of some assets of the Ethos blockchain platform and Universal Wallet for a purchase price of 7,250,000 shares of Voyager (CSE: VYGR).
The deal will see Shingo Lavine, Founder, and CEO of Ethos, joining Voyager as Chief Innovation Officer, in addition to his current position as a member of the firm’s Board of Directors.
Specifically, the assets acquired by Voyager include the Ethos Universal Wallet, a crypto wallet that supports bitcoin, ether and over 100 altcoins, enabling users to securely store, track, send and receive cryptos free of charge; and Ethos Bedrock, an enterprise-grade blockchain solution.
Reportedly, the Ethos Universal Wallet makes it easier for Voyager customers to self-custody their digital assets and transfer coins within the Voyager mobile app in a frictionless way.
Voyager Adding More Functionality
Commenting on the acquisition, Stephen Ehrlich, CEO of Voyager described the deal as a significant achievement for the firm.
In his words:
“Voyager is rapidly adding more features to its platform, and it now supports crypto deposits and withdrawals. Acquiring Ethos’ assets is another major achievement that will enable us to integrate the Ethos Bedrock infrastructure into our expanding blockchain platform and best-in-class crypto experience.”
What’s more, the Voyager team has also revealed that the company has inked a strategic partnership deal with the Jump Trading Group and has granted Jump warrants to acquire 9.9 percent of its outstanding shares over the course of three years, at a price of CAD 0.80 per share ($0.60).