They’re coming for your money, so why not try crypto on for size?
It’s beyond me why in this day and age of really smart technology companies, equipped with blockchain products, it took almost a week to determine the winner of the US Presidential election – and it still isn’t over… Hand counting ballots is so 2000…..well, maybe by 2024….?
Fortunately, blockchain technology is alive and well and is supporting the cryptocurrency markets. Voyager Digital Ltd. (CSE: VYGR | OTCQB: VYGVF) is one of the up and coming crypto-asset brokers based in New York City and just reported impressive Fiscal 2020 results.
But that is only a backward look at the company – looking ahead, there are a lot of reasons to pay attention to Voyager, including the fact that it is publicly traded. But also if you are interested in trading cryptos, the company has an app available for its more-than 250,000 users in the US (available for Android and Apple). Plus, in early October 2020, Voyager announced it has added a new institutional offering to the Voyager Platform, expanding its reach to corporate treasury desks and institutional accounts, while also launching an OTC desk to add institutional accounts to the platform.
While adding to the institutional market takes this brokerage platform to a new level, that is but another milestone in the company’s growth. The company also announced in October the merger of Voyager’s European operations with French-regulated company LGO giving it direct control over this licensed European entity. This will allow the company to expedite its European strategy for expansion – just another step in the target of going global.
And finally, the company just announced that the Assets Under Management (AUM) have grown 20 times since the end of December 2019 and are now in excess of $100 million. “Voyager’s offering of over 50 digital assets, including 22 interest-bearing assets, is winning over investors. As we increase our marketing reach, investors are gravitating to Voyager’s commission-free, easy to use platform” said CEO Stephen Ehrlich.
He added “Our industry-leading interest product allowing customers to earn interest on a compounding basis has propelled Voyager to being the preferred agency brokerage for trading, earning, and investing in digital assets. With the recent addition of NBA Hall of Famer, Tracy McGrady, our team will continue to bring products to the market, including a debit card and more traditional bank products, allowing easy adoption of these assets.”
What does this mean as an investor? During the month of October, the stock was relatively range-bound, with a share price fluctuating between CAD$0.72-$0.78. With the announcement in early November of AUM growth plus the other October news flow, investors paid much more attention – the share price closed at CAD$1.23 on November 6.
Timing is everything and on November 10, 2020, Gerard Hanshe, Chief Operating Officer of Voyager, will be a featured panelist at the upcoming Benzinga Global FinTech Awards event. His panel – focused on trading tools – begins at 3:40 p.m. EST. CEO Steve Ehrlich will be speaking at 5:15 p.m. EST to discuss Voyager’s growth and future prospects (click here to register).
Voyager Digital is relatively new and is publicly listed in Canada and is intent on international expansion as noted above with Canada still to come. As we all learn more about crypto, Voyager is one company that provides an extensive (and growing) list of currencies to access, offers no-commission trading plus security for your assets. But if owning or trading cryptocurrency keeps you awake at night, there is an opportunity to still benefit from the Voyager model through the public listing.
Note from the Publisher: Thank you for the review of Voyager Digital Ltd. (CSE: VYGR | OTCQB: VYGVF). And in full disclosure, we have just joined the Voyager Ambassador and Partner Program. Not available in Canada yet, if you’re in the USA and you want to check it out, you can get $25 in free Bitcoin when you sign-up & invest your first $100 — click here to find out more, and type in the promo code: INTEL
Frederick Kozak is a Professional Engineer with extensive oil and gas, and international business experience and has more than 25 years involved in capital markets ... <Read more about Frederick Kozak>