Voyager Digital Posts Record Quarterly Revenue, Growing User Base By 75%

Crypto-asset platform Voyager Digital Ltd VYGVF on Thursday afternoon announced record quarterly revenue growth.

What To Know: As of June 30, total funded accounts exceeded 665,000, up 146% from the quarter prior. Total verified users on the platform rose 75% to 1.75 million.

Additionally, preliminary fourth-quarter revenue is expected to reach as high as $107 million and basis points per-trade continue to exceed 100 basis points.

"Our June quarter reflects continued growth of our platform, with revenues up more than 65% from the March Quarter. Although we have seen a significant decrease in crypto market volume since mid-June we continue to see significant net new funded account growth, net asset inflows, and consistent basis points on spread revenues on our platform continue through today,” said Steve Ehrlich, CEO and co-founder.

Why It Matters: Voyager, in a move to provide retail and institutional investors turnkey solutions to trade crypto assets, offers execution, data, wallets and custody.

The company is also a Benzinga Listmaker, part of Benzinga’s Global Fintech Index, recognized for its accomplishments innovating, as well as merging the best of finance and technology.

"We continue to advance our marketing efforts and move forward on a host of important initiatives, including the launch of our Voyager Loyalty Program (VLP) program set to kick-off in September and Voyager's payment processing capabilities,” Ehrlich added.