Voyager Digital reaches $200 mn in assets under management milestone
By Pavithra R
Voyager Digital, a commission-free crypto broker & FinTech solution for digital asset investing, has announced a milestone growth, surpassing $200 mn in assets under management (AUM), up 100% from $100 mn at the beginning of November, and up 40x in the past 12 months.
The escalated growth in AUM s led by unprecedented levels of net daily deposits, with over $50 mn in total net daily deposits since the beginning of November, and averaging nearly $1 mn of average net daily deposits for this same period.
“Voyager is firing on all cylinders as we enter 2021. The rapid pace of increase in net daily deposits is a testament to the success of our platform and the support from our community. AUM is a key metric for the performance of our business, and we are excited that users have placed their trust in our platform which allows us to generate greater returns and thereby reinvest to bring new products to market faster, including our desktop platform, debit and credit cards, and margin offerings,” said Steve Ehrlich, Co-founder and CEO of Voyager.
The crypto ecosystem thrived despite the pandemic, witnessing global recognition with many well known institutions either diversifying into Bitcoin or providing greater access to digital assets. According to Voyager, the continued momentum confirms that digital assets are a legitimate, standalone and investable asset class that is here to stay, offering investors with the ability to combat inflationary pressures from the continued debasement of traditional fiat currencies.
This evidence suggests that digital assets are starting to rival more established asset classes such as fixed income, commodities, equities, and precious metals, in particular, the $9 tn traditional gold market.
“We’ve positioned Voyager with a leverageable technology platform ripe for expansion both internationally and product-wise, with Canadian and European expansion planned in 2021. We look forward to bringing Voyager’s regulatorily compliant and transparent platform to the masses in 2021,” added Mr Ehrlich.
Founded in 2017, Voyager is a publicly-traded, licensed crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. The firm offers investors execution, data, wallet, and custody services through its institutional-grade open architecture platform.
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November 12, 2024