Voyager: Expansion Of Cryptocurrencies To Coinbase & Binance
In the wake of the Silvergate Bank liquidation announcement, crypto investment platform Voyager has made a surprising announcement. The company has sent multiple types of cryptocurrencies to Coinbase and Binance and other tokens such as COMP, MKR, and SUSHI. This move is significant because it gives Voyager users access to a much wider range of cryptocurrencies, providing them with more options for trading and investing.
Silvergate Bank was a Californian bank that specialized in cryptocurrency transactions. Quickly became an essential player in cryptocurrencies. Unfortunately, it announced plans to wind down and liquidate, citing “risk-based decisions” as the primary reason for its closure.
Since then, the bank has been working on its liquidation process, but the risk associated with this decision has caused some concern in the industry. Many were worried about the impact this would have on other cryptocurrency-related businesses and services.
Voyager Steps In To Help Facilitate Crypto Transfers
In light of Silvergate Bank’s closing, Voyager stepped in to help facilitate cryptocurrency transfers. The company enables investors and institutions to transfer U.S. dollars from bank accounts to crypto exchanges. While other deposit-related services will remain operational during the liquidation process, Voyager has now announced deposits to Coinbase and Binance.
Voyager’s Deposits to Coinbase and Binance
Today, Voyager has announced deposits to Coinbase and Binance of various cryptocurrencies. These include 22.2K ETH ($33M), 11M VGX ($6M), 825B SHIB ($9M), and 160K LINK ($1M). Along with these major tokens, Voyager has also sent other tokens such as COMP, MKR, and SUSHI. It gives traders more options for trading and investing, giving them greater access to various cryptocurrencies.
The expansion of Voyager’s cryptocurrency transfers has many benefits. By providing traders with more options, Voyager is helping to increase liquidity in the market and making it easier for traders to move their funds between exchanges. Furthermore, by allowing users to access a variety of tokens, Voyager is providing more opportunities for traders to diversify portfolios and take advantage of price differences across exchanges.
The news of the Silvergate Bank liquidation was certainly concerning, but the announcement from Voyager is offering customers a glimmer of hope. By expanding its platform to include multiple cryptocurrencies and giving traders access to a range of tokens, Voyager is helping increase market liquidity and provide investors with more options.
