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.
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“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 to disclose publicly details of corporate transactions such as mergers, acquisitions and securities transactions by employees or ownership changes.
Ehrlich stated, “We are confident that the transparency a public company must maintain will be beneficial not only to our shareholders and customers but also to the entire crypto market.” “We hope to encourage more people into the crypto market using a regulated vehicle, without the fear or doubt that has shrouded it previously.”
Crypto Broker Voyager Digital Listings on Canada’s TSX Venture Exchange
The CEO said that the listing was a “critical step for our growing business” and added that it would allow traditional equities traders to buy shares of Voyager to invest in cryptocurrency, even if they have never used crypto assets.
Voyager provides cryptocurrency trading services for both institutional and retail investors. Voyager, which wants to increase its market share in the U.S., is currently beta testing a zero-fee mobile currency trading app. This app allows users to trade and manage cryptocurrency investments on multiple exchanges.