Voyager (VYGR.V), a cryptocurrency brokerage firm that provides retail and institutional investors with trading solutions, has acquired Ethos.io, the blockchain startup behind ETHOS and the Universal Wallet, for $4 million.
Breaking News: Ethos has been acquired by Voyager. Uniting together to build the premier end-to-end crypto broker, wallet service and blockchain financial platform.
— Ethos.io (@Ethos_io) February 28, 2019
According to the announcement, Ethos and Voyager began a partnership in the fall of 2018 to mutually advance technology development for both platforms. With the acquisition, Ethos will continue to grow independently with the ongoing development of the Universal Wallet while both teams will further combine efforts to develop Voyager’s platform into an all-in-one crypto solution.
“Operating under one unified banner allows us to expand upon our future enhancements for our combined clients globally, and we have put in motion a significant strategy to bring value to both Voyager shareholders and Ethos token holders,” said Ethos founder and CEO Shingo Lavine. “We are excited to be part of the innovative Voyager platform and continue enhancing the firm’s offerings through our blockchain technology prowess.”
As part of the acquisition, Lavine will transition to chief innovation officer at Voyager and join its board.
Both groups will also now combine efforts to improve the utility and functionality of ETHOS, starting with joint cashback rewards. Ethos Bedrock, a high-performance Blockchain Financial Services (BFS) platform, will also be combined with Voyager’s institutional offerings to develop an array of products for institutional clients.
One reason for this public listing was to build a war chest for M&A, and Ethos appears to be the first beneficiary of this approach.
Following the deal, the price of ETHOS is down 2.2% on the day to $0.145412, giving the altcoin a $10.8 million market cap.
Announcement: Voyager has Acquired Ethos to Create a Commission-Free Crypto Broker and Institutional Blockchain Platform
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.