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Crypto asset broker Voyager acquires French crypto exchange

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TL;DR

  • Voyager, crypto asset firm, buys French crypto exchange company, LGO
  • Voyager and LGO tokens to merge

Voyager Digital Limited, a famous and top crypto asset broker, has just completed buying a France based cryptocurrency exchange firm, LGO markets, whose focus is on getting corporate institutions to invest in the crypto market.

According to details of the deal, the two firms will henceforth be known as Voyager while their hitherto two separate crypto tokens, VGX, and LGO, will merge to become one token.

The merged tokens of the firms will have DeFi features, and a 7% initial interest rate.

Voyager is a crypto asset firm that is listed on the Canadian Securities Exchange (CSE). LGO has a Virtual Asset Service Provider license, which was granted to it by the French authorities. Thus, this new deal would enable the Canadian based firm to be able to access the European market as it would be using and depending on the license of its latest acquisition to access the market.

From October 31, LGO would also be shifting its focus away from institutional investors only. 

The crypto asset firm, Voyager, would also have to issue up to a million shares, which would partly determine the cost of the deal. The other factor that would determine the value of the acquisition would be the token of both firms.

The merger of the two crypto asset firms still under regulatory review 

The merger of two of the top crypto asset firms in Canada and France, Voyager, and LGO is still under regulatory reviews as the firms believe that the deal’s approval would be gotten before the end of this year.

Voyager, on Friday, recorded a drop in its shares. Its shares recorded a 2.3% fall, which dropped it to 0.56 Canadian dollars ($0.43) in CSE trading. And since news broke out of the upcoming merger between both firms, Voyager has seen its stock drop by as much as 16% since October 21.

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Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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