Voyager Digital, a publicly traded cryptocurrency platform, has requested the United States government to expedite a national security review of its planned acquisition by Binance.US, the American arm of the world’s largest cryptocurrency exchange Binance. The deal would combine Voyager’s more than 50 digital assets with Binance’s platform, making it a leader in the industry. Binance.US CEO, Catherine Coley, said the company is “eager to close the transaction and begin delivering enhanced services to our combined customer base.”
However, the acquisition is subject to a review by the Committee on Foreign Investment in the United States (CFIUS), a government body that evaluates foreign investments for potential national security threats. Voyager has now requested for the review to be expedited, so as to not slow down the merger process.
This acquisition could be a major step for Binance as it looks to expand its offerings in the U.S. market. The deal, which was first announced in October 2020, would make Binance the owner of Voyager’s more than 50 digital assets and increase its offerings in the American market. The CEO of Voyager, Stephen Ehrlich, said the merger would “create a leading, diversified player in the digital asset ecosystem”
The outcome of this review remains to be seen, but the companies are optimistic about the potential benefits of the merger for their customers. The process of national security review is often lengthy and uncertain, but Voyager’s request for expediting the review is indication of the companies’ eagerness to complete the transaction as soon as possible.