Voyager Digital Ltd. today announced that the Company signed a non-binding term sheet with Alameda Research to secure a revolving line of credit providing Voyager with access to further capital. The Company pursued this term sheet considering the current crypto market conditions. The proceeds of the credit facility are intended to be used to safeguard customer assets in light of current market volatility and only if such use is needed. Voyager is putting the facility in place to better serve and protect its customers.

“Today’s actions give Voyager more flexibility to mitigate current market conditions and strengthen our relationship with one of the industry leaders,” said Stephen Ehrlich, Chief Executive Officer, Voyager. “Safeguarding customer assets is always our top priority, and ongoing, prudent risk management as well as a strong balance sheet are two ways that we continue to demonstrate that priority.”

The term sheet with Alameda Research provides for revolving term credit facilities each having a term expiring December 31, 2024, and having an annual interest rate of 5% payable on maturity. The first credit facility is a cash/USDC-based credit facility with an aggregate principal amount of US$200 million. The second revolving credit facility is for 15,000 in Bitcoin (BTC). The credit facilities will only be used by Voyager if needed to safeguard customer assets. In addition to the funds available under the credit facilities, Voyager has more than US$200 million on its balance sheet.

Voyager and Alameda are working to execute definitive documentation, which is expected to be completed in the coming days.

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