Canadian crypto asset broker Voyager Digital Ltd has begun trading its shares on the Toronto Ventures Exchange (TSX.V). The company was listed as part of a reverse acquisition of the mineral exploration company UC Resources. Voyager argues that an IPO will help to improve transparency in the crypto market and promote acceptance by allowing traditional investors to access digital assets through the public stock market.
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"Listing increases the transparency and acceptance of crypto"
Voyager's shares trade under the ticker symbol "VYGR.V". "While reverse acquisitions are becoming an increasingly popular business strategy for many emerging companies, the idea of going public for a young company may seem inappropriate at first sight," said Stephen Ehrlich, Voyager's Chief Executive Officer, in a blog post.
"For us, the election made perfect sense. It gave Voyager the opportunity to create transparency for our business, mature the crypto market and offer the world the opportunity to invest in a public crypto trading company through the traditional market. "
Voyager is now trading on the TSX Venture Exchange. The IPO only made sense for us to bring transparency to our business and to foster it in this emerging and emerging sector. Find out more about why we decided to go public and join us on our journey. https://t.co/FoTnrHhsaY pic.twitter.com/DwAuTLlG6G
– Voyager (@investvoyager) February 11, 2019
In a reverse takeover, private companies typically avoid the rigor of regulatory scrutiny and the costs associated with going public through a public IPO. This makes them in a sense attractive to startups who want to avoid bureaucratic bureaucracy.
Voyager has recently announced the completion of its collaboration with UC Resources, a publicly traded company on the TSX Venture Exchange, Canada's emerging market for emerging and mid-market companies. The merger, which is in fact a takeover of the controlling stake in UC Resources, has given Voyager a public offering.
"Solid capital base for business growth"
In his blog post, Ehrlich noted that the listing requires the broker to disclose both quarterly and annual reports. Voyager is also required to publicly disclose details of corporate transactions such as mergers, acquisitions, insider trading, corporate securities transactions and ownership changes.
"We are confident that the transparency a public company holds not only benefits our shareholders and customers, but also the entire crypto market," said Ehrlich. "We hope that with a regulated vehicle, we can encourage more people to join the crypto market, without the fear and doubts that have overshadowed the industry so far."
The listing "was a crucial step for our growing company," said the CEO, "as we now have a solid capital base to expand, grow and improve our offering to investors." He also talked about how development will spur the cryptocurrency takeover by giving traditional stock traders the opportunity to invest in crypto by buying shares of Voyager, "even if they have never touched crypto assets before."
Voyager offers cryptocurrency trading services to both retail and institutional investors. Brokerage, which seeks to grow its share of the US market, is currently testing a mobile digital app for trading on no-charge digital currencies being beta tested. The app is designed to allow users to buy, sell and manage their cryptocurrency investments on multiple exchanges.
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The TSX Venture Exchange's Post-Crypto Broker Voyager Digital Lists were first published on Bitcoin News.