Crypto Broker Voyager Digital Lists on Canada’s TSX Venture Exchange
According to a recent report, Voyager Digital Ltd has begun trading its stock on the Toronto Ventures Exchange (TSX.V). The company listed through a reverse takeover of mineral exploration company UC Resources.
Voyager Goes Public
The Canadian digital asset broker is of the belief that going public will assist in the improvement of transparency in the crypto market while promoting adoption by presenting traditional investors with the opportunity to tap into digital assets by using the public equity market.
Commenting on the development the Chief Executive Officer of Voyager, Stephen Ehrlich said that: “While reverse takeovers are an increasingly popular business strategy for many emerging companies, the idea of a young company going public may at first glance seem out of the norm,” Voyager’s shares are expected to trade under the ticker symbol ‘VYGR.V’.
“For us, the choice made perfect sense. It offered Voyager the chance to bring transparency to our business, maturity to the crypto market and to provide the world with an opportunity to invest in a public crypto trading company through the traditional market.” he continued.
A Reverse Takeover
Furthermore, when a reverse takeover is to take place, private companies usually find a way to evade the stress of regulatory oversight and expenses associated with going public through an initial public offering, thereby making them attractive to companies who are also trying to avoid bureaucratic red tape.
In light of this, Voyager recently made it known to the public that it has completed the merger between itself and UC Resources, a publicly quoted company on the NEX Exchange which is Canada’s junior market for emerging startups. With this merger, it will take over UC Resources’ majority shareholding, therefore going public. However, the agreement permits the merged entity to transition to the TSX Ventures Exchange has a Tier 2 company.
Services rendered by Voyager includes trading of cryptocurrency to both retail and institutional investors. In a bid to grow its share in the U.S. market is presently testing a zero-fee mobile digital currency trading app in beta. The app is built to allow users to buy and sell as well as manage their virtual currency investments across several exchanges.