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<ul class="summary-list"><li><keyword id="11784441" type="UNKNOWN" weightage="60" keywordseo="voyager-token">Voyager Token</keyword> spiked 42% to a 24 hour high of $3.44 Tuesday as traders cheered on the coin's parent company's new acquisition.</li><li id="recirc"><a href="https://www.businessinsider.com/?hprecirc-bullet"></a>On Monday <keyword id="11445442" type="UNKNOWN" weightage="60" keywordseo="voyager-digital">Voyager Digital</keyword> said it will acquire <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> payments firm <keyword id="11784442" type="UNKNOWN" weightage="60" keywordseo="coinify">Coinify</keyword>. </li><li>The Voyager Token is the 89th largest crypto by market capitalization according to CoinMarketCap data. </li></ul><p>Voyager Token spiked 42% to a 24-hour high of $3.44 around 9:10 a.m. ET on Tuesday as traders cheered on the coin's parent company's new acquisition, according to <a href="https://coinmarketcap.com/currencies/voyager-token/" target="_blank" rel="noopener">data from CoinMarketCap</a>.</p><p>On Monday, cryptocurrency broker Voyager Digital announced it would acquire crypto custody and payments platform Coinify. Voyager intends to bolster its international expansion through the acquisition of the Denmark-based platform. </p><p>"As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyager's digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy, and secure way to make payments from their Voyager accounts," said Voyager co-founder and CEO Stephen Ehrlich in a press release.</p><p>Day traders on Stocktwits praised the firm's decision and cheered on the Voyager Token's spike on Tuesday.</p><p>"Recently acquired company Coinify further expanding their global footprint in payment processing space. Voyager is still in its infancy, paving the way in crypto expansion and payment processing (ex Canada, Europe etc..)," one user commented."</p><p>"I think it's time for everyone to YOLO!," another said. </p><p>The token was the number 3 trending ticker on Stocktwits Tuesday morning. When the Voyager Token was up 42% for the day, it carried a current market capitalization of roughly $743 million, making it the 89th largest cryptocurrency on <a href="https://coinmarketcap.com/currencies/voyager-token/">CoinMarketCap</a> at that time.</p><p>Meanwhile, shares of Voyager Digital are up over 250% year-to-date. </p>

Voyager Digital's token spikes 42% as day traders cheer the firm's acquisition of crypto custody and payments platform Coinify

<p><div class="KonaFilter image-container display-table center float_right"><div><div class="image on-image"><p class="source"><span>Coinify</span></p><p class="caption">Coinify CEO Mark Højgaard.</p></div><p></p></div></div>Will businesses of the future use cryptocurrencies for payments? Mark Højgaard thinks so.</p><p>"If you talk to any financial institution today, everybody says payment will be on the blockchain in the future," the CEO of Danish cryptocurrency business told Business Insider.</p><p>"I think we're beyond where we're wondering if the blockchain will be used for payments or not."</p><p>It's true that <a href="http://uk.businessinsider.com/goldman-sachs-the-blockchain-can-change-well-everything-2015-12">banks are going crazy for the potential of blockchain technology</a>, which was first developed to underpin cryptocurrency bitcoin. Forty two<a href="http://uk.businessinsider.com/11-banks-in-r3-consortium-use-blockchain-technology-to-trade-2016-1"> have signed up to a working group, R3, looking at possible uses for the technology.</a> Payments is just one of them.</p><p>Copenhagen-headquartered Coinify is not involved in the discussions but is hoping to ride the wave of blockchain enthusiasm in the financial service world right now.</p><p>The company runs a bitcoin trading platform for users to buy and sell digital currency. But it is also a payment service provider (PSP) that lets banks and merchants accept payment in 17 different cryptocurrencies while getting paid in their own local currencies.</p><p>"Once we get bitcoin coming in from our payments side, because we keep the bitcoins and pay out local currencies to our merchants, we can use those in our trade facility where we have demand of bitcoin," Højgaard says. "We make actually a profit on receiving bitcoin and selling bitcoin."</p><p>It is on the payments side rather than the trading side that Coinify wants "to place our big bets," according to Højgaard. The company is signing partnerships with payment service providers around the world, offering a simple digital plug-in called an API that lets clients of the PSP easily accept payments in bitcoin and other digital currencies.</p><p>"9 months ago, you couldn't get in touch with anyone from the payment services industry," Højgaard says. "But today, we see people calling us for our services in the PSP sector and we have 15 contracts."</p><p>Coinify's ambition is to be the go-to service provider for anyone who wants to accept any blockchain-based payment, be it bitcoin or otherwise. Højgaard says: "If there is a payment to be done on the blockchain, we are the ones to use, based on our great, very versatile platform."</p><p>Blockchain - also known as distributed ledger technology - is a name for a protocol underpinning bitcoin that uses complex cryptography and distributed ledgers, or copies of records in multiple places, to regulate, record, and enable transactions using bitcoin.</p><p>Finance firms hope it has the potential to be faster than current systems and cut costs by eliminating the middle men who usually sit in between any transaction. But many are looking to use alternative blockchains to bitcoin's.</p><p>Højgaard says: "There will be hybrid models, there will be a lot of new alternatives, there might be a new blockchain - not the bitcoin blockchain."</p><p>Between the two sides of the business, Coinify is the fourth biggest bitcoin company in the world by volume. Over 15,000 merchants around the world are signed up and it has 10 to 15 new ones signing up each day. Højgaard highlights Danish food delivery start-up Hungry.dk as one of its biggest clients.</p><p>But Coinify's "big bets" rely on uptake of bitcoin or other cryptocurrencies for payments. <a href="http://uk.businessinsider.com/circle-bitreserve-bitpay-struggle-lack-of-bitcoin-adoption-2015-11">US bitcoin companies that have banked on big consumer take up have faltered because people aren't using the digital currency anywhere near as much as they hoped.</a> Coinify is hoping to avoid the same pitfalls by keeping things small.</p><p>"We are a lean startup business and we still act and think as a lean startup," CEO Mark Højgaard told Business Insider. Despite the volumes it deals with, Coinify still only employs 18 people.</p><p>"We spend out money wisely and we are hopefully having enough traction to maintain our position. We have great volume, we are actually making money, but we are not making more than we are spending of course. But we don't have that same kind of burn rate that you see in the US."</p><p>But Højgaard concedes: "Nobody can tell the future right now. We had a big discussion yesterday with a lot of banks in a blockchain masterclass. We had a lot of financial institutions talking about what the future can be like and nobody can actually see at this point. That's a risk factor in this.</p><p>"You cannot see when the user will adopt this and you can not even say that it's going to be bitcoin. I cannot even say when the big uptick will be." Still, he thinks there will be an uptick.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZJ1X8F3D&amp;SMLS=1&amp;RW=1440&amp;RH=720#/SearchResult&amp;VBID=2C0BXZJ1X8F3D&amp;SMLS=1&amp;RW=1440&amp;RH=720&amp;POPUPPN=4&amp;POPUPIID=2C0FQEQ6983J">REUTERS/David Gray</a></span></p></div><p></p></div></div>There has been much discussion in the bitcoin community about whether the currency can actually handle the level of transactions that mainstream banking would require it to. <a href="http://uk.businessinsider.com/bitcoin-has-failed-says-developer-mike-hearn-xt-censorship-2016-1">High-profile developer Mike Hearn said this month that bitcoin's network is "on the brink of technical collapse."</a></p><p>Many banks also believe that bitcoin will be eclipsed by its underlying technology, with <a href="http://uk.businessinsider.com/goldman-sachs-the-blockchain-can-change-well-everything-2015-12">Goldman Sachs saying: "<span>Bitcoin was just the opening act, with the Blockchain ready to take center stage."</span></a></p><p>Højgaard is unfazed. He says: "Us as a company, we are independent of the bitcoin and blockchain. We simply aggregate to the merchants. In that sense I think the technology will be used in some sense. Maybe the consumers doesn't even need to know because it will be the underlying platform."</p><p>Coinify is currently in the process of raising a Series A round of funding but Højgaard would not disclose how much the company is targetting. He said Coinify hoped to transact €100 million (£76 million, $108 million) this year.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/ceo-more-likely-psychopaths-jon-ronson-2016-1">How to know if you're a psychopath</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xxMzl3dDow-R28pScWGuiAPHIeSaFV_2" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Everybody says payments will be on the blockchain in the future

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Blockchain</span></p><p class="caption">Blockchain CEO and cofounder Peter Smith.</p></div><p></p></div></div>The world's biggest bitcoin wallet provider will "pretty easily" have its biggest ever month for activity in November, following a surge in use after Donald Trump's shock election victory in the US.</p><p>Peter Smith, the cofounder and CEO of London-based Blockchain, told Business Insider: "We're setting a new record pretty much every day since the election in terms of activity on the platform.</p><p>"People are basically hedging against economic instability. It's a worrying time to be holding a lot of British pound or if you're America - people flee to safe haven assets. Bitcoin is one of those. Bloomberg added to its list of safe havens last week actually."</p><p><a href="http://uk.businessinsider.com/bitcoin-price-rocketing-on-trump-win-2016-11">The price of digital cryptocurrency bitcoin spiking last week</a> after it became clear that <a href="http://uk.businessinsider.com/donald-trump-wins-election-results-2016-11">Donald Trump had beaten Hillary Clinton to become the 45th President of the United States</a>, a huge upset.</p><p>Blockchain employs around 25 people in London but also has offices in Luxembourg and New York. The company is the world's biggest provider of digital wallets for bitcoin, with over 50% market share, and processes over 150,000 transactions a day on average. It has raised over $30 million (£23.9 million) to date.</p><p>Smith declined to give specific numbers on activity, but says: "It'll be the first month where millions and millions of people use us," adding that the day the election result was announced "was the biggest single day increase we've seen in the last year."</p><p>Smith was talking to BI for the launch of a new feature on Blockchain's platform that allows customers to buy and sell bitcoins from within its wallets.</p><p>He says: "One of the things that's been different about our product for a long time is you're not depositing your bitcoin with us, you're just getting the infrastructure that lets you manage your own private key. The trade off their historically has been if you have a wallet like that you can't buy and sell the bitcoin from that wallet.</p><p>"What's more exciting from an industry perspective is at the moment if you buy bitcoin, it's kind of like a 2 to 3 day experience. You buy them and 2-5 days later you actually get them. It's a little weird. What's really exciting about this product if you get the bitcoin instantly, you pay for them and about 5-6 later you get them."</p><p>Blockchain has been working on the feature for around 8 months, Smith says, and has partnered with <a href="http://uk.businessinsider.com/interview-with-coinify-ceo-mark-hjgaard-2016-1">Danish bitcoin payment and service provider Coinify</a> to launch the new capabilities.</p><p>The new feature launches in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> on Monday and will be across the UK and eurozone by the end of the month. Smith hopes to have the feature launched across the US and parts of Latin America by the end of the first quarter of 2017.</p><p>Smith says he was not tempted to launch the new feature in the US instead of the UK, given the surge in activity there. He says: "We want to go UK first because it's our home market. It's easiest to manage. The other thing is this isn't going to be over in a week. This is going to drag on for a while."</p><p>Smith says he expects the new feature to lead to a "big uptick" in activity on the platform. Coinify Co-Founder and CEO Mark Højgaard says in a press release announcing the new features: "With Blockchain's dominant position in the cryptocurrency wallet market, I believe this will be a real game changer."</p><p class="tagline"><div id="categorypromo" style="border:1px solid silver; min-height:90px; padding:10px;vertical-align:top;"><a href="http://read.bi/fintechleadgen"></a><strong> EXCLUSIVE FREE REPORT:</strong><br />5 Top Fintech Predictions by the BI Intelligence Research Team. <strong><a href="http://read.bi/fintechleadgen">Get the Report Now »</a></strong></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/twitter-earnings-layoffs-nfl-salesforce-disney-jack-dorsey-300-employees-2016-10">Twitter will lay off more than 300 employees to cut costs</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="d2ZGIyNzE61-BB8HlQ8F0puugfKJfzoA" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The world's biggest bitcoin wallet provider will have a record month thanks to Trump

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Voyager Digital's token spikes 42% as day traders cheer the firm's acquisition of crypto custody and payments platform Coinify

Emily Graffeo

Everybody says payments will be on the blockchain in the future

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The world's biggest bitcoin wallet provider will have a record month thanks to Trump

Oscar Williams-Grut

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