Apr 5, 2020 02:30 UTC
Apr 5, 2020 at 02:30 UTC
Voyager Digital Canada, the crypto trade service firm, has finished its acquisition of Circle Invest’s retail-facing investment app.
Voyager, yesterday, declared it had onboarded Circle Invest’s more than 40,000 accounts onto its platform — barring residents of NYC, Alaska, and North Carolina. Voyager currently reports a user base of more than 2,00,000 altogether.
Circle Invest was sold in return for a 4% stake in Voyager in February.
Voyager Onboards Circle Invest’s Customers
Voyager offers commission-free trading on its 34 cryptocurrency assets and USD.
The firm will keep on offering Circle Invest’s collection highlights — permitting clients to buy baskets of assets gathered by common attributes and weighted by market capitalization.
Clients can likewise acquire interest somewhere in the range of 2% and 6% interest on BTC, ETH, LTC, DASH, BCH, the firm’s native Voyager Token (VGX), and stablecoins USDC, USDT, TUSD.
Voyager is authorized as a Money Service Business with the US Budgetary Crimes Enforcement Network and is traded on an open market on the Canadian Securities Exchange.
FinCEN orders that Voyager must hold Circle Invest’s KYC information for a long time after record conclusion.
Circle Sheds Subsidiary In The Midst Of Spotlight On Stablecoin
Voyager’s acquisition of Circle Invest was declared in February.
The news contained the 3rd significant asset Circle has sold in a year — following the association’s offer of cryptocurrency exchange, Poloniex, to financial specialists in Oct 2018, and the offer of its OTC trading desk, Circle Trade, to Kraken OTC in Dec 2019.
A Circle representative showed that the sales are part of Circl’es push to focus more on USDC. They expressed –
“It’s clear that there’s more interest than ever before in stablecoins and central bank digital currencies, in part because significant global technology companies like Facebook and major economies like China have advanced plans for creating digital currencies.”
The sales were joined by cutbacks. Circle expelled 30 positions, which represented 10% of its workforce, in May 2019, preceding separating a further 10 positions in December 2019.