Voyager Digital has secured a mortgage facility settlement with Alameda Analysis, in a deal that the brokerage platform says will assist it higher defend its buyer belongings amid the present market situations.
$200 million in money/USDC and 15,000 BTC
Voyager introduced on Friday that it had sealed “a non-binding time period sheet” with buying and selling agency Alameda Analysis, securing a revolving line of credit score that provides entry to contemporary capital ought to or not it’s wanted.
In accordance with the corporate, the mortgage facility might be used to offer a security web round buyer belongings because the market navigates the present volatility.
The credit score facility is available in two elements, with the primary being a $200 million mortgage settlement denominated in money or the USDC stablecoin. Along with that, Voyager and Alameda have agreed on an additional 15,000 Bitcoin (BTC) credit score facility.
The 2 services’ time period expires on December 31, 2024 and can appeal to an annual curiosity of 5% to be paid on maturity.
Voyager is “properly capitalized”
Turbulence within the crypto markets has had a drastic affect on corporations and tasks, with the latest upheavals for Celsius and 3AC pointing to potential contagion.
In mild of this, the Voyager group supplied an asset and threat administration replace earlier within the week, in search of to guarantee its clients that every one was properly.
Aside from stating that it had no belongings with Celsius, Voyager CEO and co-founder Steve Ehrlich famous:
“The corporate is properly capitalized and in a very good place to climate this market cycle and defend buyer belongings. It’s Voyager’s aim to proceed to construct safe services and products, in addition to construct belief and management within the cryptocurrency trade.”
The corporate has over $200 million on its steadiness sheet, it mentioned on Friday.