Canada-Based Voyager Digital Announces Nearly 2000% Growth In Customers’ Assets Growth In 2020
– Voyager released its latest financial report for the year with impressive figures
– Recording Increases in customer asset growth, brokerage accounts, and revenue
In a press release, Canadian publicly listed cryptocurrency broker, Voyager announced an impressive 1,159 % surge in revenue, registering approx. $1.1 million over the fiscal year ending June 2020. The total brokerage accounts also grew massively across the past year from 10,000 accounts to 89,000, representing 750% growth. Finally, brokerage accounts' growth is well reflected in the customer assets growth – a 1,959% growth to $35 million in 2020 from about $1.7 million in June 2019.
Voyager Digital also made several partnerships and strategic acquisitions across the fiscal year, including partnerships with leading traditional trading platforms, including Market Rebellion, Sterling Trading Tech, and RoundlyX. Voyager Digital also acquired the crypto wallet services firm Ethos Universal Wallet and Circle Invest, intending to accelerate its growth.
The company also launched the Voyager Interest Program offering 17 digital assets with interest-bearing qualities. To market and sensitize users on the program, the Canadian crypto broker announced an advisory relationship with NBA Hall of Famer Tracy McGrady, who will help educate customers on the platform.
Stephen Ehrlich, CEO at Voyager Digital, is looking forward to a bigger 2021 for the company – as they “bolster the platform’s capabilities and meet the demands of the customer base.” In the first quarter of the 2021 fiscal year, Voyager expects $2 million in revenue, representing a growth of over 200% from Q1 2019. Ehrlich also expects users to witness new products that will enhance their experience and drive them to the digital asset platform.
Some of the upcoming milestones for the firm include integrating Circle’s Stablecoin (USDC) platform services on Voyager, expand globally to other regions and continents (currently available in Canada), list more tokens on its platform and obtain a BitLicense from the New York State Department of Financial Services (NYSDFS) allowing them to carry out digital currency activities in the U.S. Speaking on the expansion, Ehrlich said,
“At the same time, we are focused on accelerating our international expansion by moving into new regions in North America as well as into Europe and Latin America.
Over time, we expect to make the Voyager App available to customers worldwide”.