Voyager has acquired the retail-focused Circle Invest app from Circle, the companies announced Wednesday.
According to an email sent to Circle Invest users, Voyager is in the process of converting accounts to its own platform, with the process expected to conclude by the end of March (though New York residents may be on a different timeline). Voyager is promising commission-free trading, on-chain access and lock-up free interest yield, the email said.
"We have entered into a product-line acquisition of Circle Invest with Voyager to convert your Circle Invest account into a Voyager account, making exciting new features and digital assets available to you," according to an email from Circle.
Roughly 40,000 retail Circle Invest accounts will be converted to Voyager, according to a press release, bringing Voyager's total userbase to 200,000.
Voyager CEO Stephen Ehrlich said in a statement the acquisition "signifies a tremendous development for Voyager as we welcome a substantial number of new users to our platform."
Voyager also acquired a U.S. Financial Institute Regulatory Authority (FINRA) broker-dealer and listed a series of stablecoins as part of its expansion.
"This year, Circle will have a deep focus on stablecoins globally, dollars on public blockchains (USDC) specifically, and the powerful possibilities they unlock for people, businesses and governments all around the world," Circle's email said.
The company said it hopes to build global payment and wallet APIs for stablecoins first, targeting businesses and developers. Voyager will integrate these APIs, according to the email.
"Because of this, we have been searching to find a great home for Circle Invest customers to continue on their crypto investing experiences with a specific partner, and are thrilled to have found a fantastic home for you at Voyager," the email said.
Neither a spokesperson for Circle nor an external spokesperson for Voyager immediately returned requests for comment.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.