Voyager Digital announces January growth metrics and that Assets Under Management surpassed USD$350 million, up 52% from year end
January 11, 2021 (Source) —
- Customer Account growth up 4x vs December
- Average number of trades per day have increased to 22,000 from 6,700 in December
Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), a publicly-traded, licensed crypto-asset broker that provides investors with a turnkey solution to trade crypto assets, today announced that Assets Under Management (AUM) have surpassed USD$350 million, a 52% increase from USD$230 million at year end. The Company is also updating stakeholders with the following key metrics as of January 10, 2021:
- Average daily net deposits exceed USD$5 million, up from approximately USD$1 million per day in December
- Average daily new funded accounts have grown 4x vs the December run rate as the Company has increased its funded accounts by 25% since December 31
- Principal Value Traded has increased 4x to USD$20 million per day from USD$5 million per day in December
- Trading velocity has increased to approximately 1.25x-1.5x AUM on a monthly basis vs a historic turnover rate of .75x-1x AUM
- Trading spreads to date continue to track above 50 basis points
“We are extremely excited at the expedited growth in our business over the last few weeks, as indicated by our January to date metrics,” said Steve Ehrlich, Co-founder and CEO of Voyager. “As mainstream adoption of digital assets continues to accelerate, Voyager gains market share through customer acquisition, international expansion and product expansion, driving shareholder value. Additionally, in times of volatile markets, as can happen with this asset class, we see an increased amount of trading which increases many of the key metrics. Voyager is well-positioned in this dynamic, rapidly growing industry.”
For more information on Voyager Digital, please visit https://www.investvoyager.com. The Voyager app is available for Android and iPhone.
About Voyager Digital Ltd.
Voyager Digital Ltd. is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers best execution and safe custody on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent and cost-efficient alternative for trading crypto-assets to the marketplace. Please visit us at https://www.investvoyager.com for more information and to review the latest Corporate Presentation.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.
Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets and the Company’s anticipated results may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” (or the negatives) or other similar variations. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Forward looking statements are subject to the risk that the global economy, industry or the Company’s businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned and those other risks contained in the Company’s public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company’s normal course of business and that current trends in respect of digital assets continue. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, past performance or current trends. Information identifying assumptions, risks and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available at www.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends. All figures are in U.S. dollars unless otherwise noted.