Why Voyager (TSX:VOYG) Stock Jumped 13% on Monday

Voyager (TSX:VOYG) stock soared again, this time by 13%, as the company announced the integration of its new Voyager token into Coinify.

Amy Legate-Wolfe

Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Before joining Motley Fool Canada, she wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Follow Amy on LinkedIn and Canada Stock Digest.

Published November 9, 2021 8:15 am EST

Voyager Digital (TSX:VOYG) continued its climb into the stratosphere on Monday. Shares jumped 13% from news of a recent integration by the cryptocurrency company. Should Motley Fool investors consider Voyager stock? Or is it too late?

What happened?

Voyager stock shares climbed 13% on Monday after news the company will integrate Voyager token into Coinify’s cryptocurrency payment platform. This subsidiary, completely owned by Voyager stock, provides payment services in over 150 countries, according to a statement by Voyager.

This comes after Voyager stock acquired Coinify in August 2021. It added global payments through cryptocurrency, expanding the “functionality of the Voyager token well beyond the Voyager ecosystem,” stated Steve Ehrlich, chief executive officer and co-founder of Voyager.

This payment system allows users and businesses to accept cryptocurrency online and in stores. So far, it’s used by over 30,000 merchants around the world. Furthermore, the Voyager token is now one of the cryptocurrencies accepted at these stores, along with Bitcoin, Ethereum and others.

So what?

This seems to be only the beginning for Voyager stock, which is up 92% this month alone. The company next plans to continue its international expansion to allow customers to make payments to merchants directly from their digital asset accounts. This would mean faster use and faster payments for merchants.

Furthermore, the new Voyager token allows its users to collect loyalty points, much like credit cards. They can therefore earn cryptocurrency back on trades, boosted holding rewards, and more, according to the statement.

Now what?

Motley Fool investors bullish on cryptocurrency would do well to consider Voyager stock. The company seems to be in expansion mode, with revenue to match, and is seeking out new opportunities for shareholders as well. As Bitcoin, Ethereum, and other cryptocurrencies continue to climb, Voyager stock should do well. But for long-term investors, it now has several revenue streams, and it seems to be bringing more on board all the time.

However, there is a lot of excitement around the stock. It’s one of the cheaper options out there on the cryptocurrency market by share price, so that could have something to do with it. Still, a 13% jump cannot be ignored. And as it continues to make acquisitions and partnerships, you probably won’t want to ignore it if you’re bullish on the future of crypto.