Crypto Asset Broker, Voyager Digital, Reports An Impressive 1,159% YoY Revenue Jump
- Voyager Digital Limited, a licensed Canadian crypto-asset broker, announced a preliminary unaudited revenue figure of $1.1 million after a sharp growth through the fiscal year ending June 30th, 2020.
- The strong revenue growth is greatly attributed to a strong Q4 where the revenues grew 701% year-on-year to $700,000.
The preliminary report, released by Voyager, showed that the unaudited revenues by the firm jumped an impressive 1,159% over the year to $1.1 million. The company registered over 230,000 customers in the past fiscal year as the brokerage accounts increased 750% year-on-year to 86,000 accounts.
The results show exceptional performance in the operational and financial milestones set by the firm. Stephen Ehrlich, CEO, and Co-founder of the brokerage firm said the company had increased its customers’ assets by 1,959% to $35 million, and the principal value traded grew to $165 million, representing a 725% YoY growth. Ehrlich said,
“Our exceptional business momentum carried over into the fourth quarter, where we saw strong revenue growth both sequentially and year-over-year. […] These results reflect our evolution this past year into a fully integrated digital asset agency broker.”
The rapid growth in Voyager follows a rapid expansion in its business capabilities, including the addition of 39 crypto assets on its platform, including XRP, Compound (COMP), Kyber Network (KNC), Multi-Collateral Dai (DAI) and Celo (CELO) among others.
In the remaining part of 2020 (first half of 2021 fiscal year), Voyager aims at integrating USDC stablecoin as one of the assets, obtain a BitLicense from the New York State Department of Financial Services (NYSDFS) and extend their interest program to other assets.
“Looking ahead, we continue to take steps to strengthen the Voyager Platform, and grow both our retail and institutional customer base,” Ehrlich added.