Voyager Digital, a licensed crypto-asset broker, has announced that assets under management has seen 20X growth this year. Digital assets continue to gain momentum among retail and institutional investors. Voyager has hit $100mm in AUM YTD, which is up from $5mm at the end of December 2019.
Voyager Digital Assets Under Management
Voyager Digital, a crypto-asset broker serving retail and institutional investors, announced that AUM has grown 20X this year. The commission free trading platform continues to attract crypto investors through its diverse set of 50+ digital asset offerings. Investors are also taking advantage of alternative solutions such as the Voyager interest program, where users are earning 8.5% APR on stablecoins.
With 20X growth this year, Voyager Digital is now overseeing $100mm in assets under management. Back in December of 2019, the company was sitting right around $5mm.
Stephen Ehrlich, the Co-founder and CEO of Voyager stated that:
“Over the last few months, Voyager has experienced exponential growth on our platform which has resulted in our AUM exceeding $100mm. 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, evidenced by our daily deposits increasing 25x since December.”
In a prior announcement by the firm, Visionary Financial reported that Voyager was projecting a ~ 200% increase in quarter-over-quarter-revenue for fiscal first quarter 2021. The crypto-broker continues to scale into additional market segments, and even added NBA hall of famer, Tracy McGrady to their advisory team. Tracy and his business partner are introducing the masses to digital assets through various giveaways. In addition, McGrady is educating on Stablecoins and explaining why Voyager’s interest program is offering incentives that traditional banks fundamentally cant.
During the announcement, Ehrlich also commented that:
“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.”
Crypto Sentiment This Year
Aside from institutional investors getting heavily involved in digital assets this year, PayPal has recently announced the launch of crypto services to drive retail adoption. Many argue that this was the biggest news for the digital asset markets since inception. With support for BTC, ETH, BCH, and LTC, PayPal is making crypto accessible to ~ 200mm U.S. users. Additionally, PayPal plans to give 26mm merchants the ability to accept cryptocurrency in early 2021.
With large companies getting involved in the space, investor sentiment and comfort continues to increase. Unlike PayPal, investors are migrating to platforms like Voyager, where they leverage cutting edge tech and more offerings.
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