Steve Ehrlich, CEO of Voyager Digital Ltd VYGVF, appeared on Benzinga's YouTube show "Power Hour" for an exclusive interview Wednesday.
Voyager Digital is a cryptocurrency asset broker that provides investors with a complete solution for trading crypto assets.
Voyager's Growth Metrics: Voyager Digital reported quarterly revenue of $60.4 million, a sixteenfold increase from the previous quarter. It reported an operating profit of $30 million with an operating margin of 50%. The company noted that this was its first ever quarter with an operating profit.
$5 billion of principal volume was traded compared to $350 million in the previous quarter. The company announced that new funded accounts in May have already exceeded the entire month of April.
Related Link: Crypto Trading Platform Voyager Digital Sees 1578% Sequential Surge In Q3 Revenue
Voyager's CEO On Its Results: Erlich told Benzinga that he hasn't seen another company grow at the speed at which Voyager Digital has been able to grow over a three-year period.
The quarter highlighted the company's tremendous growth, the CEO said, adding that the company is just getting started.
The quarterly results were "just the beginning of what we are building," he said.
Ehrlich On Volatility, Security: The volatility in the market is a good thing for Voyager, Erlich said, adding that volatility leads to increased trading, which translates to increased revenue and profit for the company.
The numbers "speak for themselves," he said.
Two large drops in the cryptocurrency markets have occurred over the last 15 months, and defaults were not an issue, he said, adding that the system isn't overleveraged to the point where issues would arise.
"You can feel safe with your funds" invested through Voyager Digital, Erlich said.
Voyager Coin: The Voyager Coin is a very important aspect of everything the company is doing, Erlich said, adding that the Voyager Coin is Voyager Digital's version of a rewards program. He compared the Voyager Coin to airline and hotel rewards programs, but said it's better because it's built on the blockchain.
Voyager's Road Map: Voyager Digital aims to be listed on the Nasdaq eventually, Ehrlich said.
The company is focused on scaling its infrastructure, launching a debit card, expanding internationally, and bringing stock trading to Voyager Digital, the CEO told Benzinga.
Voyager Digital shares gained 5.71% Wednesday, closing at $20.17.
See Also: Exclusive: Voyager CEO Steve Ehrlich Welcomes Coinbase To The Party
Image by WorldSpectrum from Pixabay
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