LGO, a European digital asset exchange focused on institutions has teamed up with crypto broker voyager to access larger markets especially in the European region.
LGO CEO, Hugo Renaudin said that LGO and Voyager will merge their services and offering under the Voyager brand, to offer a premium experience to retail cryptocurrency investors, in the US and in Europe.
Renaudin stated that the European clients would be able to access the Voyager app using the LGO regulatory setup in Europe, and that both LGO and VGX tokens will be merged into a new token.
Voyager is a crypto broker that facilitates trades for customers through its platform. The platform connects to the world’s leading market makers and liquidity providers so its users get better prices on their trades, minimum liquidity on all orders, and a great access to the crypto market.
With a crypto broker, customers are able to route their trades to a number of different exchanges and other customers, as opposed to using an exchange where they only have access to liquidity and volume of the exchange.
Following the merger with LGO, Voyager looks to expand its coverage to Europe’s retail citizens, as it was only providing its services to the U.S. customers before. The European clients will have the same access as American clients, as the platform awaits regulatory approval from the French and European regulators.
The merger is not set to benefit European customers and the crypto broker only, as also the U.S. customers will reap benefits. According to Renaudin, as users of a global app, U.S. clients will benefit the services of a bigger player, with more reach and better services. These services include prices, more assets, and better rates.
Global token holders will also benefit from the new token created after the merger, as it will have more utility and more features.
LGO is an institutions-focused crypto exchange that has been in the forefront of Europe’s blockchain and crypto industry. It helped start ADAN, a group of entities furthering this same agenda in the region. However, with this merger, LGO will transfer its assets to Voyager by the end of 2020, and starting October 31, 2020, it will no longer operate its institutional exchange.
Renaudin said
LGO will operate under the Voyager brand, so we will mostly focus on retail. That being said, Voyager recently announced the launch of their institutional offer and we’ll help grow this part of the business as well.
Since these two platforms have their own native crypto assets, VGX and LGO, the merger will affect them, as they cannot operate independently. Therefore, Voyager will phase out these two tokens and replace them with a single fresh asset that should be in the market before 2021. Owners of LGO and VGX can trade in their holdings and receive the new one that will offer new benefits such as community governance for DeFi and staking capabilities.
Image courtesy of pixabay
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