Voyager Digital Preliminary Q4 Revenue Up by 75%; AUM Passes $200 Million

Voyager Digital Preliminary Q4 Revenue Up by 75%; AUM Passes $200 Million

Voyager Digital, a Canada-listed crypto-asset broker, estimates that its Q4 revenue shot up by 75% compared to Q3; this is according to a business and operational update released by the firm on January 5th. While revenue figures are preliminary (unaudited), Voyager expects the revenue from the quarter that ended on December 31 to hit $3.5 million.

The firm has further reported a run rate of $20 million in December, which is a 10x growth in comparison to $200,000 during December of 2019. Voyager Co-founder and CEO, Stephen Ehrlich, attributed the growth to increasing crypto adoption in recent months,

“We believe this is due to the increasing utilization of digital assets by mainstream investors and the continued adoption of our trusted, state-of-the-art trading platform.”

As for activity on the Voyager platform, the crypto asset broker has more than tripled its Assets Under Management (AUM) to hit $200 million, compared to $75 million at the end of Q3 2020. Another metric that has grown is the net daily deposits, which now range over $1 million, an increase from $0.4 million as of September 2020.

The firm also highlighted its strategic acquisition of French crypto exchange provider LGO back in October; this move exposed Voyager Digital to the larger European market. Going by these fundamental and technical metrics, Ehrlich expressed optimism for the year 2021,

“As widespread adoption of cryptocurrency grew in the latter part of 2020, we have seen 2021 get off to a quick start, and we are well-positioned to continue our extraordinary growth through 2021 and beyond.”

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Author: Edwin Munyui

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