Voyager Digital has secured a loan facility settlement with Alameda Be taught, in a deal that the brokerage platform says will relief it better provide protection to its customer resources amid the contemporary market circumstances.
$200 million in cash/USDC and 15,000 BTC
Voyager announced on Friday that it had sealed “a non-binding time length sheet” with trading agency Alameda Be taught, securing a revolving line of credit ranking that affords decide up entry to to new capital must peaceful it be wished.
In accordance to the firm, the loan facility will be ancient to blueprint a safety web around customer resources as the market navigates the contemporary volatility.
The credit ranking facility is available in two parts, with the principle being a $200 million loan settlement denominated in cash or the USDC stablecoin. To boot to that, Voyager and Alameda personal agreed on a additional 15,000 Bitcoin (BTC) credit ranking facility.
The 2 amenities’ time length expires on December 31, 2024 and must peaceful attract an annual interest of 5% to be paid on maturity.
Voyager is “properly capitalized”
Turbulence within the crypto markets has had a drastic influence on companies and projects, with the contemporary upheavals for Celsius and 3AC pointing to doable contagion.
In mild of this, the Voyager crew offered an asset and probability management substitute earlier within the week, seeking to guarantee its customers that all used to be properly.
As a substitute of declaring that it had no resources with Celsius, Voyager CEO and co-founder Steve Ehrlich renowned:
“The firm is properly capitalized and in a lawful space to weather this market cycle and provide protection to customer resources. It’s miles Voyager’s purpose to continue to originate accurate services and products, as properly as originate belief and leadership within the cryptocurrency industry.”
The firm has over $200 million on its stability sheet, it said on Friday.
