Crypto brokerage firm Voyager (CSE:VYGR) announced today that it has entered into an agreement with Circle to acquire Circle Invest, the company’s retail-focused investing app business, for a 4% stake in the startup and cost reimbursements.
According to the announcement, the acquisition will add more than 40,000 new retail accounts to Voyager’s customer base, bringing the total to over 200,000. Voyager will also be adopting a number of Circle’s key features, including the ability to purchase cryptocurrency collections in a single transaction and the integration of Circle’s stablecoin platform.
“This product line acquisition signifies a tremendous development for Voyager as we welcome a substantial number of new users to our platform,” said Voyager co-founder and CEO Stephen Ehrlich. “This transaction also helps us deliver on our promise to investors, providing regulated brokerage services and resources to as many users as possible in the digital asset marketplace.”
The acquisition is the third major M&A event for Circle in the past year as it shifts its focus to stablecoins. The company also sold its crypto exchange, Poloniex, to the TRON Foundation and Circle Trade, the company’s OTC desk, to Kraken.
“We’re very happy to be able to provide Circle Invest customers with a broader depth of retail investment features through the transaction with Voyager,” added Rachel Mayer, director of product management at Circle. “This transition comes at a time when Circle is launching new platform services and products for businesses around the world to help them bring the benefits of stablecoins into their products and grow global commerce in new and innovative ways.”
Voyager’s acquisition of Circle Invest is projected to close in March. Investors can earn $25 in free BTC by signing up for the Voyager app through this link and trading $100 (or use code: SLUDGE25).
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.