Voyager Digital Ltd, a Canadian cryptocurrency asset broker has begun trading shares on the Toronto Ventures Exchange. The reverse takeover of UC Resources, a mining exploration company, saw the company become publicly traded. Voyager asserts that going public will increase transparency in the crypto market and encourage adoption. This is because traditional investors can tap into digital assets through public equity markets. More about Charity Token Homeless
“Listing Will Boost Crypto Adoption and Transparency”
Voyager shares will trade on the ticker symbol VYGR.V. Stephen Ehrlich (chief executive officer at Voyager) stated in a blog that while reverse takeovers have become a popular business strategy for many young companies, the idea a young company going public might seem unusual.”
“The choice was easy for us. Voyager had the chance to be transparent in its business, mature in the crypto market, and offer the world the opportunity of investing in a public cryptocurrency trading company via the traditional market.
A reverse takeover allows private companies to avoid the rigorous regulatory oversight and associated costs that come with going public through an initial publicly offered. This is a great option for startups who want to cut through bureaucratic red tape.
Voyager announced recently the conclusion of its tie up with UC Resources. UC Resources is a publicly listed company on Canada’s NEX Exchange. Voyager went public as a result of the merger. This is essentially a takeover from UC Resources. The deal allows the merged entity transition to the TSX Ventures Exchange as a Tier-2 company.
Solid Capital Base to Support Company Growth
Ehrlich explained in a blog post that the stock exchange listing legally requires the broker to publish quarterly and annual reports. Voyager must also publicly disclose details of any corporate deals, such as mergers and acquisitions, securities transactions by employees, and ownership changes.
Ehrlich said, “We’re confident the level of transparency that a public corporation is held to will benefit our shareholders as well as customers and the crypto market overall.” “We want to make it easier for people to get involved in the crypto market by offering a regulated vehicle that is free from the uncertainty and fear that have plagued the industry.”
Crypto Broker Voyager Digital lists on Canada’s TSX Venture Exchange
The CEO stated that listing was “a critical step for our company’s growing company” as it gave them a capital base from which they could grow and expand their offering to investors. He also talked about how Voyager will allow traditional equities trader to purchase shares of Voyager in order to increase cryptocurrency adoption, even though they haven’t touched crypto assets before.
Voyager offers both institutional and retail cryptocurrency trading services. The brokerage is looking to expand its U.S. market share and is currently beta-testing a zero fee mobile digital currency trading app. It allows users to manage and buy, as well as manage their crypto investments across multiple exchanges.