Home / Markets / Licensed Crypto-Broker Voyager Digital Set to Enter European Market with LGO Merger

Licensed Crypto-Broker Voyager Digital Set to Enter European Market with LGO Merger

Summary:
As part of the deal, the LGO and VGX token holders can swap their holdings to the new token that will come with decentralized finance (DeFi) features along with the function of staking rewards.On Thursday, October 22, licensed and publicly traded digital asset brokerage company Voyager Digital announced its merger with the French crypto exchange LGO through its new buyout offer. The company sees this acquisition as expanding its institutional services while stepping into the European market.However, the transaction still has regulatory approval pending and is likely to arrive by the month-end. The final value of the deal will depend on the price of Voyager (CNSX: VYGR) shares and the company’s token price. As per rough estimates., this can be in the low seven figures.Currently, Voyager’s

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As part of the deal, the LGO and VGX token holders can swap their holdings to the new token that will come with decentralized finance (DeFi) features along with the function of staking rewards.

On Thursday, October 22, licensed and publicly traded digital asset brokerage company Voyager Digital announced its merger with the French crypto exchange LGO through its new buyout offer. The company sees this acquisition as expanding its institutional services while stepping into the European market.

However, the transaction still has regulatory approval pending and is likely to arrive by the month-end. The final value of the deal will depend on the price of Voyager (CNSX: VYGR) shares and the company’s token price. As per rough estimates., this can be in the low seven figures.

Currently, Voyager’s brokerage platform offers services to U.S. customers by supporting over 50 assets. Besides, it a few of these assets Voyager earns interest on over 17 assets. Speaking about the deal, Steve Ehrlich, co-founder and CEO of Voyager said:

“Voyager’s partnership with LGO provides an exciting platform for Voyager to expand into Europe, leveraging Voyager’s model to engage in fully compliant businesses in well-regulated jurisdictions. Voyager has been planning its European expansion for some time and when the opportunity to work with Hugo Renaudin and his team presented itself, we determined it was the right path to increase Voyager’s global footprint. Working with a fully regulated entity has always been our preferred path. Regulation helps to give customers the comfort they need as it ensures the safety and security of their assets.”

Swapping Up Voyager (VGX) and LGO Tokens

The exciting part of the deal is that the VGX and LGO token holders can also swap these tokens. The swapping of these utility tokens will happen to newly minted tokens with DeFi functions like community governance and staking. The staking feature will allow investors to earn passive income with a 7% interest rate.

The token swapping is likely to happen before the end of 2020. Apart from the DeFi feature, the new token will also bring cashback rewards for trading on the Voyager platform. Additional benefits include interest boosters, debit card benefits, reduction in withdrawal fees, and much more.

“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 available. Now with the new coin, holders will enjoy additional features over time,” stated Mr. Ehrlich.

Speaking to CoinDesk, CEO of LGO Hugo Renaudin told about the company’s decision to shift its focus from serving institutional clients rather increasing value for token holders. “The key decision-maker is also what will bring the most value to our tokens,” Renaudin said. “So we have this token. We have token holders and they’re mostly retail [clients].”

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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