Crypto Asset Brokerage From Uber’s Ex-CTO Goes Public on Canadian Exchange

Published at: Feb. 12, 2019

Crypto asset brokerage Voyager Digital — co-founded by the ex-CTO of Uber — has gone public on Canada’s TSX Venture Exchange. The news was announced in an official tweet from Voyager on Feb. 11.

Shares are traded under ticker symbol VYGR.V, as a company blog post outlines.

The listing comes following the completion of a so-called reverse takeover — also known as a reverse initial public offering or backdoor listing.

Last week, Voyager had announced that its merger with former shell company UC Resources Ltd. was nearing completion. The moved allows the crypto brokerage to qualify as a TSX Venture Tier 2 Company.

Generally, a reverse takeover occurs when a privately held company merges with a publicly traded company — thereby bypassing at least some of the bureaucratic scrutiny involved in the process of going public, including regulatory issues and due diligence. Upon completion of the deal, the buyer gains automatic inclusion on the relevant stock exchange.

As the firm’s blog post notes, now that Voyager has gone public, it will be legally bound to disclose quarterly and annual reports. The company will also be required to report any mergers, acquisitions, insider trading, securities transactions by firm employees and ownership changes.

As previously reported, among its co-founders, Voyager counts E*Trade veteran Steve Ehrlich and Oscar Salazar — the former CTO at Uber and one of the company’s original employees.

The firm is working toward launching a zero-fee mobile crypto trading app, currently in beta stage development, that will allow investors to to trade and manage their digital assets across multiple crypto exchanges.

Last October, it reportedly launched its institutional trading service, and imminently plans to launch retail trading services for United States residents, followed by Canadians in Q3 2019.

Voyager is poised to enter the North American crypto trading sector amid steep competition from players such as crypto exchange and wallet service provider Coinbase, zero-fee stock and crypto brokerage app Robinhood and San Francisco-headquartered Poloniex — acquired by Goldman Sachs-backed payments platform Circle last year.

Other crypto industry firms to have pursued a reverse takeover include Mike Novogratz’s crypto-focused merchant bank Galaxy Digital, which opted for the route in order to secure a listing on the very same TSX Venture Exchange.

Tags
Ipo
Related Posts
SEC-registered crypto issuer INX to wrap up IPO in April
INX Limited, a Gibraltar-based platform for trading securities and cryptocurrencies, is preparing to finish its initial public offering soon. According to a Monday announcement, April 22 will be the last day of INX’s IPO as the company expects to have listed its token on at least one public trading platform by the end of May 2021. INX plans to launch the INX Digital trading platform shortly after the IPO ends, the firm said. INX launched the IPO in August 2020, planning to raise up to $117 million in a security token offering approved by the United States Securities and Exchange …
Bitcoin / April 6, 2021
94% of Surveyed Endowment Funds are Allocating to Crypto Investments: Study
94% of endowments have been allocating to crypto-related investments throughout 2018, a new survey published on April 12 reveals. The study was conducted in Q4 2018 by trade publications Global Custodian and The Trade Crypto, in partnership with blockchain security firm BitGo. Out of 150 surveyed endowments, 89% of the respondents were reportedly based in the United States, with the rest either in the United Kingdom or Canada. The survey indicated that despite widely-reported concerns around regulation, custody and liquidity, endowments will continue to allocate investments to the new asset class — with only 7% of respondents saying they anticipated …
Adoption / April 15, 2019
China returns as 2nd top Bitcoin mining hub despite the crypto ban
The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report. China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government banned all crypto operations in the country, according to the latest update from the Cambridge Bitcoin Electricity Consumption Index (CBECI) shared with Cointelegraph on Tuesday. Bitcoin miners in China accounted for 21.1% of the total global BTC mining hash rate distribution as of early 2022, …
Adoption / May 17, 2022
64% of US adults are interested in crypto, new survey shows
Nearly two-thirds of adults in the United States are interested in learning more about cryptocurrencies like Bitcoin (BTC) or holding them soon, according to a new survey. Gemini, a crypto trading platform owned by Tyler and Cameron Winklevoss, released a new State of U.S. Crypto Report, providing insights about consumer trends in the crypto market in the U.S. The data was collected from a national survey of 3,000 U.S. adults aged 18 to 65 with $40,000 or more in household income. The report points to a significant expansion and diversification of the nation’s crypto investors over the course of 2021. …
Adoption / April 21, 2021
Bloomberg Terminal Lists Crypto Market Index From World’s Third Largest Exchange Huobi
Bloomberg Terminal, a paid financial data monitoring service, will now list crypto exchange Huobi's Cryptocurrency Index, according to a press release shared with Cointelegraph today, June 21. Bloomberg Terminal will also list prices for nine crypto trading pairs, denominated in Tether (USDT), including Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP), Dash, EOS, and ZCash. The Huobi 10 Index, designed by the Huobi Group, is calculated using asset classification and a weighted average method to track the performance of the top 10 traded digital assets on Huobi’s exchange. The press release notes that Bloomberg Terminal’s addition …
Adoption / June 21, 2018