Ga. Banking & Finance Dept. Enters Into Consent Order With Voyager Digital

Targeted News Service

ATLANTA, March 10 -- The Georgia Department of Banking and Finance issued the following news:

On March 9, 2023, the Georgia Department of Banking and Finance ("Department") entered into a Consent Order with Voyager Digital, LLC ("Voyager Digital"), NMLS No. 1730854, located at 78 SW 7th Street, 8th Floor, Miami, Florida 33130. The Consent Order was entered to resolve a Notice of Intent to Deny Application for Renewal of Annual Money Transmitter License issued to Voyager Digital on the grounds that the Department is not satisfied that the applicant is financially sound, responsible, and able to transmit money in an honest, fair, and efficient manner and with the confidence and trust of the community. O.C.G.A. Sec. 7-1-684(a)(1). The Consent Order provides that the license renewal application submitted by Voyager Digital is denied. As a result, the Georgia money transmitter license previously issued to Voyager Digital expired as of the date that the Consent Order was entered and is no longer valid. Without a valid license, Voyager Digital is not authorized to engage in money transmission in Georgia. O.C.G.A. Sec. 7-1-681.

Georgia law requires all licensed money transmitters to operate under a valid bond in form and terms acceptable to the Department as a continuing requirement of licensure. O.C.G.A. Sec. 7-1-683.2. Pursuant to O.C.G.A. Sec. 7-1-689(l)(7), the Department may make available to the public the terms or a copy of any bond filed by a licensee. Accordingly, a copy of surety bond no. GM209969 issued by Great Midwest Insurance Company, NAIC No. 18694, related to the Georgia license previously held by Voyager Digital is included with this press release.

Georgia residents who wish to file a claim against the surety bond in connection with outstanding balances that may be owed to them by Voyager Digital may contact the surety via email at [email protected] or telephone at 713-935-7400. The Department does not administer the bond claim process. Please note that the bond only covers certain liabilities of Voyager Digital that are within the express terms of the bond.

On July 5, 2022, Voyager Digital and related entities filed petitions for Chapter 11 reorganization in the United States Bankruptcy Court of the Southern District of New York. Information about the cases is available online at https://cases.stretto.com/voyager/.

Georgia consumers seeking guidance about their options for how to proceed may wish to consult with their own attorney, as the Department cannot provide legal advice.