Voyager Digital Ltd, a Canadian crypto asset broker, has begun trading its shares on Toronto Ventures Exchange (TSX.V). Through a reverse takeover, UC Resources, a mineral exploration company, the company was listed. Voyager believes that public listing will improve transparency in crypto markets and promote adoption. Traditional investors can access digital assets via the public equity market, Voyager claims.
Also see: Coinify adds BCH to its trading platform and rebrands it
“Listing will Boost Transparency, Crypto Adoption”
Voyager shares will trade under the ticker symbol “VYGR.V”. In a blog post, Stephen Ehrlich, chief executive of Voyager, stated that reverse takeovers are becoming a more popular business strategy for many new companies. However, the idea of a young company going publicly may seem unusual.
The choice was a good one for us. Voyager was able to increase transparency in our business and maturity in the crypto market. Voyager also had the opportunity to offer the public the opportunity to invest through the traditional market in a crypto trading company.
Reverse takeovers allow private companies to avoid the regulatory oversight and high costs of going public via an initial public offer. This makes them more attractive for startups looking to get around bureaucratic red tape.
Voyager, Charity Token Homeless recently announced that it has completed its tie-up to UC Resources. UC Resources is a publicly traded company on Canada’s NEX Exchange. Voyager is now public due to the merger which, in effect, is a takeover by UC Resources’ major shareholding. The merger allows Voyager to become a Tier 2 company on the TSX Ventures exchange.
Solid Capital Base for Company Growth
Ehrlich explained that the stock market listing legally obligates the broker disclosure of quarterly and annual reports. Voyager will be required …