Voyager Digital, a licensed crypto-asset broker has introduced support for institutional and corporate accounts. In a push to expand into additional market segments, Voyager Digital is introducing a new institutional offering, and has established an OTC desk to service institutional accounts.
Expanding Infrastructure
Voyager Digital, one of the fastest growing crypto brokers, has continued to expand operations in 2020. Just last month, the company announced that it had listed its 50th digital asset, and was building out its DeFi offerings. Voyager had also mentioned that they plan to experience 200% increase in quarter-over-quarter revenue for the fiscal first quarter 2021.
In most recent developments, Voyager Digital announced multi-purpose infrastructure that would allow the company to expand into other market segments. They plan to achieve this by adding institutional and corporate account offerings.
With traditional banking offering extremely low yields, companies like Voyager Digital are attracting investors through their lucrative interest programs. In the Voyager app for example, users are actively trading and earning interest on a daily basis. Bitcoin holders are earning 5.5% APR, which are rates that nobody in traditional banking is offering. In addition to Bitcoin, Voyager offers interest on other cryptocurrencies like Voyager Token, DASH, Ethereum, Litecoin, Bitcoin Cash, and others.
The new institutional offering plans to help corporate treasury desks bolster balance sheet yield.
Lewis Bateman, Head of Voyager Business Development & International Strategy stated that:
“We have seen increased appetite from companies looking to take advantage of Voyager’s market-leading interest offerings to capture greater returns on their cash reserves, which are typically higher than returns offered through traditional banking relationships. The timing was right for Voyager to add this new institutional offering as a way for our company to meet the growing demand from our consumers.”
With Voyager continuing to build out its banking, custody, and trading relations, Bateman believes they are on track to deliver a seamless experience for institutions looking to get involved in digital assets. With Mr. Bateman recently joining Voyager Digital, the company believes he will be a valuable asset in terms of expanding institutional and international offerings. Bateman previously worked at the Toronto Stock Exchange where he took on senior roles. Additionally, he has worked for other top tier financial firms such as Merrill Lynch, Horizon ETFs Management, and CI Financial.
Steve Ehrlich, Co-founder and CEO of Voyager added that:
“Being a publicly-traded and regulated company in this industry, our platform offers the corporate treasury desks and institutions an unparalleled asset management solution along with the regulatory oversight they require.”
As institutions continue to express more interest in digital asset markets, Ehrlich said that the firm plans to integrate various institutional-grade capabilities in the foreseeable future.
OTC Desk
On the retail side, Voyager Digital plans to work with institutional fund managers through their new OTC Desk. The market has seen institutional interest soar this year, and Voyager Digital is putting itself in a prime position to service significant market share.
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