VOYAGER COMPLETES MERGER WITH LGO POSITIONING COMPANY WITH FULLY REGULATED EUROPEAN PLATFORM
Voyager Digital Ltd. has closed on the previously announced merger of its European operations into LGO SAS, an entity regulated by the AMF, France's stock market regulatory authority. The merger gives Voyager direct control of the regulated entity, which will allow the company to expedite its European strategy.
"This merger gives Voyager the ability to service the 750 million European population with the most consumer-friendly agency brokerage platform for investing in crypto assets," said Steve Ehrlich, co-founder and chief executive officer of Voyager.
"We look forward to our international expansion as Voyager's growth continues on all fronts, with AUM growing rapidly and our product offering continually enhanced with debit and credit card, margin, and more traditional banking products on the horizon.
We look forward to making Voyager a truly global company and having Gaspard de Dreuzy lead the integration efforts in Europe."
With the closing completed, Voyager can now finalize the next version of the Voyager token in conjunction with a token swap, allowing holders of the VGX and LGO token to exchange to the new token.
The token swap is expected to be completed in the first quarter of 2021.
The new token includes decentralized finance features such as community governance, and also advanced utility including staking with an initial 7-per-cent interest, cash back rewards on trading on the Voyager platform, debit card benefits, interest boosters, reduction of withdrawal fees, and more, all on a global basis.
"We are excited to create an improved token to bring greater utility to our loyal community. Historic holders of VGX have benefited from our rewards programs and interest boosters. Now with the new coin, holders will enjoy additional features over time," stated Mr. Ehrlich.
Voyager will issue LGO 200,000 shares at closing and up to one million more upon certain conditions being met, with the one million shares held in escrow.
Just recently, Voyager announced its 55th digital asset on its platform and that assets under management have exceeded $165-million, with plans to continue to grow the asset base on the platform.
About Voyager Digital Ltd.