U.S.-based cryptocurrency brokerage firm Voyager Digital announced a $75 million investment from cryptocurrency quantitative trading firm and liquidity provider Alameda Research on Thursday. Founded in 2018, Voyager Digital offers more than 60 digital currencies for trade on its mobile app, which also includes services such as yield farming.
According to the companys website, Alameda Research was founded in 2017 and now manages $1 billion in digital assets. In addition, the firm claims to trade anywhere between $1 billion to $10 billion worth of major cryptocurrencies, altcoins, and crypto-derivatives each day. The company has taken an active interest in decentralized finance, or DeFi, in the recent year.
Steve Ehrlich, CEO and co-founder of Voyager Digital, issued the following statement regarding the new partnership:
“While the immediate opportunity is on the order flow and asset management front, we are tremendously excited about potential future synergistic opportunities in the continuously evolving crypto industry. These opportunities include NFTs and crypto derivatives through Alameda, as well as the creation of thought leadership as we work with lawmakers on shaping regulation.”
On Wednesday, the Dallas Mavericks basketball team announced a five-year partnership deal with Voyager Digital. The two aim to increase cryptocurrency adoption worldwide through the promotion of educational content and fan engagement. It also includes naming rights to the Mavs Gaming Hub, the official venue of the namesake basketball team.
