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Cryptocurrency companies use ‘backdoor’ listings to ease into mainstream

WorldNews Friday, 22 February 2019
Cryptocurrency companies use ‘backdoor’ listings to ease into mainstreamHONG KONG (Reuters) – 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. Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/Illustration 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...

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