A public trade digital asset broker based in New York, Voyager Crypto, is all set to acquire LGO Markets. With this takeover, Voyager intends to expand in Europe, since, LGO Markets are a France based Crypto exchange who mainly serve investors from institutions.
The deal will have to go through regulatory approval that requires both parties to accept and approve. Presently, the prices are at a low seven figures.
Twist For Voyager Crypto and LGO Markets
The deal is very unusual as the existing tokens, LGO, and VGX of the two companies will be swapped for brand new tokens. These new tokens will be functioning as decentralized finance (DeFi) like management of community and betting with an opening 7% rate of interest.
We recently heard Co-Founder and CEO of Voyager Crypto Stey Enrlich that they will uphold outdated acquisitions and merger processes as a world of symbols as never witnessed before.
After the merger, Voyager will give a million shares to buy and operate on the retail market of Europe. These market activities will be registered at the French Financial Markets Regulator (AMF), while Voyager is listed on the Canadian Stock Exchange. The LGO Markets will terminate all services on October 31 and function under Voyager Crypto. On Wednesday, Voyager shares were last at C$0.67 ($0.51).
A Shift Towards Retail Customers
LGO Co-founder and CEO, Hugo Renodin claimed that its objective is to aid the clients of the institutions in a better way. It will seek to offer newer products through its cash registers. After a detailed review, Renodin has confirmed that his team has made a decision to move its attention to retail customers.
Renodin has further gone on record to say that the one who gives the token the highest value is the ultimate decision-maker. Shifting their attention to the retail customers, he said that they are the ones who are the icon holders. This is what they have realized.
Voyager Crypto is not the first procurement that has been made public. It merged with a mineral exploration firm based in Canada in the earlier parts of 2019. The Startup portfolio Ethos.io was also succeeded by them for $4 million.
Enrlich in his concluding statements has been very vocal about the prospects of the company and making its financial services futuristic. Voyager Crypto would attempt to make acquisitions that would incorporate assets of customers to their platform, products, or tokens. They further want to reach out to communities that could serve as a support to what they are attempting to achieve. He would try to join all these pieces together, and he would do so by making it as organic as possible or by making more acquisitions.
Quite recently, Voyager has made an announcement about its OTC desk for its business pertaining to Institution and Treasury. It has further made an advisory partnership with Tracy McGrady from the NBA Hall of Fame.