Crypto-asset trading firm Voyager Digital has arranged to purchase payments company Coinify in a deal worth $85 million in cash and stock.

In a Monday announcement, Voyager said it would issue 5.1 million shares of its stock — worth roughly $seventy 1000000 at the time of publication — likewise equally provide $15 meg in cash to Coinify investors. The company said it would retain $5.5 million in greenbacks from Coinify'due south residual sheet.

The acquisition of Coinify is aimed at helping Voyager expand its capabilities, potentially giving crypto users effectually the world more options for cross-border payments. Voyager has been publicly listed in Canada since 2022, while Coinify said it was currently available in Europe, Asia, North America and Due south America.

"Equally the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager'south digital asset ecosystem," said Voyager co-founder and CEO Stephen Ehrlich.

Related: Voyager Digital sees 16x increase in quarterly revenue, kickoff operating turn a profit

The price of Voyager Token (VGX) surged significantly in Jan every bit the company announced many acquisitions and mergers, rising from roughly $0.15 on Jan. one to a yearly high of $vi.97 in February. At the time of writing, the price of VQX is $2.49, having risen more than 3% since the announcement of the Coinify acquisition.