Crypto dealer agency Voyager Digital Ltd VYGVF has signed a cope with Alameda Analysis, a quant buying and selling agency from FTX founder Sam Bankman-Fried, to safe a credit score facility to safeguard its clients’ property in keeping with the present market volatility, Bloomberg experiences.
In keeping with the report, Voyager will get money and a USDC-based credit score facility price $200 million. The second revolving credit score facility will likely be for 15,000 Bitcoin BTC/USD, presently valued at round $285 million.
Nonetheless, Voyager will solely use these credit score services as and when wanted to safeguard buyer property.
Speaking concerning the transfer, Stephen Ehrlich, Chief Govt Officer, Voyager, mentioned, “Right this moment’s actions give Voyager extra flexibility to mitigate present market situations and strengthen our relationship with one of many trade leaders.”
The time period sheet with Alameda Analysis gives revolving time period credit score services, every with a time period expiring December 31, 2024. It is going to have an annual rate of interest of 5%, payable on maturity.
Voyager had greater than $200 million on its steadiness sheet previous to the brand new funds being added.