After initially focusing on retail-oriented crypto businesses, Circle Internet Financial Ltd has been pouring more resources its so-called stablecoin known as USDC. The company has now announced that it will sell digital-asset-investment app for individual investors, Circle Invest, to Voyager Digital (Canada) Ltd for an equity stake in the company.
Voyager will issue common shares to Circle representing about 4% ownership in the New York-based firm, and will reimburse certain costs to Circle.
In December, the Boston-based company sold its Circle Trade over-the-counter trading business to crypto exchange Kraken. It previously unloaded its Poloniex exchange.
Voyager will add more than 40,000 retail accounts with the agreement, bringing its customer base to over 200,000 uses, the companies said in a statement. The transaction is expected to close by the end of March. Circle and Voyager will partner on delivering fast, global, low-cost payments to the combined customer base.