Voyager to Acquire Wallet Platform Ethos.io for $4 Million

Crypto brokerage platform Voyager is going to acquire the wallet startup Ethos.io for around $4 million.

As reported by Coindesk on February 28, Voyager will take control over a number of products developed by the wallet platform, including the Ethos Universal Wallet and the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term platform Ethos Bedrock, along with a few “technology and IP.”

Breaking News: Ethos has been acquired by Voyager. Uniting together to build the premier end-to-end Crypto Broker Crypto Broker A crypto broker is a dealer that facilitates the direct exchange of cryptocurrencies for other assets between two parties in over-the-counter trading. If you want to trade Bitcoin off of an exchange, the broker is the entity that matches you with another trader. Cryptocurrency brokers are usually involved in high-volume trades. Crypto holders who want to buy, sell, or trade large amounts of Bitcoin may not want to do so on a cryptocurrency exchange because a possible lack of liquidity. In other A crypto broker is a dealer that facilitates the direct exchange of cryptocurrencies for other assets between two parties in over-the-counter trading. If you want to trade Bitcoin off of an exchange, the broker is the entity that matches you with another trader. Cryptocurrency brokers are usually involved in high-volume trades. Crypto holders who want to buy, sell, or trade large amounts of Bitcoin may not want to do so on a cryptocurrency exchange because a possible lack of liquidity. In other Read this Term, wallet service and blockchain financial platform.

Read the CoinDesk Article: https://t.co/VDCsv5JpTJ$ETHOS @investvoyager — Ethos.io (@Ethos_io) February 28, 2019

Both the companies were already collaborating in the development of a few projects, as they entered into a partnership deal in last October.

Confirming the acquisition, Steve Ehrlich, CEO of Voyager, told Coindesk: “Before we had separate priorities, but we liked so much what we started together as strategic partners that we decided to bring our resources together. There is some different expertise at the two developer teams, and now they are working closely together.”

A Public Blockchain Company

Earlier this month, Voyager went public in the Canadian market via a reverse merger deal with a dormant company listed on Canada’s TSX Venture Exchange, bypassing the traditional IPO approach.

The publication detailed that the New Jersey-based crypto brokerage will make the payment with its listed shares. The company will transfer seven million of its common shares, valued at CAD 0.80 each share - putting the total value of the deal at CAD 5.6 million (around $4 million).

However, the company will not pay the entire amount upfront.

According to the inked deal, 3.3 million shares will be delivered to Ethos at the start, one million will be held in escrow and released monthly over two years, while the rest 2.6 million will be held in escrow for 24 months “against any future indemnity claims.”

Moreover, to receive the monthly shares, the Singapore-based wallet platform will have to work on the integration of its technology on Voyager.

Also, as a part of the deal, Ethos’ founder and CEO Shingo Lavine will take the position of chief innovation officer at Voyager and will also join the firm’s board. In addition, the wallet platform's former owners will also nominate a member of the board of directors once they have received at least 3.5 million shares.