Voyager Digital Will Allow Users to Purchase Traditional Stocks with Stablecoin, USD Coin
DailyCoin
Published Feb 10, 2022 09:19AM ET
Updated Feb 10, 2022 09:31AM ET
Voyager Digital Will Allow Users to Purchase Traditional Stocks with Stablecoin, USD Coin
Amidst the increasing use cases and acceptance of cryptocurrencies by several companies globally, Voyager Digital has announced its plans to allow customers to buy stocks with the USDC stablecoin.
Voyager Partners with Market Rebellion
Voyager Digital is a cryptocurrency retail firm listed on the Toronto Stock Exchange (TSE) with approximately $5 billion in assets under management (AUM). Voyager offers crypto trading, staking, and yield products.
The cryptocurrency firm announced its plans to release a feature in 2022 that will allow its users to purchase traditional stocks using the stablecoin issued by Circle, the USD Coin (USDC).
According to the report, the new feature to be launched by Voyager comes as part of a joint venture formed between the cryptocurrency platform and Market Rebellion – a trading and investment platform.
Partnering with the trading and investment firm, Voyager plans to operate a regulated broker-dealer to offer these services. On the development, Steve Ehrlich, the founder, and CEO of Voyager Digital commented;
“Incorporating stock trading, especially basing it on digital dollars, is a natural extension of what we’re doing, of our value proposition and what consumers are going to want in the near future.”In addition to accepting USDC, Voyager also plans to offer commission-free equity trades to users. According to the CEO, this will be available in the year’s second half.
On the Flipside
- Voyager Digital has partnered with Mastercard Inc (NYSE:MA), and Metropolitan Commercial Bank to launch a crypto-based debit Mastercard over the next eight weeks.
Why You Should Care
The new moves from Voyager Digital conform to the effort from crypto platforms in expanding their business to appeal to a greater audience.
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