How cryptocurrencies are entering the traditional markets they once spurned

Several cryptocurrency exchanges have moved closer to mainstream markets by buying listed companies, looking to raise funds and present themselves as embedded in the traditional financial services world they once spurned.

In the most recent deal, U.S. crypto broker-dealer Voyager Digital on Feb. 11 achieved a “backdoor” listing on Toronto’s Venture Exchange after it bought control of mineral exploration firm UC Resources.

Such purchases, also known as reverse mergers, allow companies to offer shares to the public without the rigours and regulatory scrutiny of a full initial public offering (IPO).