Crypto-asset trading company Voyager Digital has reportedly finalized the acquisition of payments firm Coinify, via an agreement valuing at $85 million in cash and stock.

Specifically, Voyager reportedly revealed its plan to complete the issuance of  5.1 million shares of its stock – equivalent to approximately $70 million at the time of publication – together with offering $15 million in cash to Coinify investors.

The firm will reportedly be keeping $5.5 million in cash from Coinify’s balance sheet. 

“As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager’s digital asset ecosystem,” Voyager co-founder and current Head Stephen Ehrlich reportedly remarked, regarding the situation. 

The Coinify purchase is reportedly to support the primary target of assisting the capabilities expansion of Voyager, potentially making different alternatives to carry out cross-border payments available to users throughout the globe. 

Voyager has reportedly completed its public listing in Canada since 2019, while Coinify has made its presence throughout several geographical areas, nominally Europe, Asia, North America and South America.

The price of Voyager Token (VGX) has reportedly witnessed a major growth in January this year, with the firm disclosing details of a variety of purchases and mergers, increasing from nearly $0.15 on Jan. 1 to hit an annual high of $6.97 in the following month. 

At the time of writing, the price of VQX reportedly stood at $2.49, which has undergone an increase of over 3%, since news about the Coinify acquisition surfaced.