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Voyager Digital Reports 75% Revenue Rise in Q4, Cites Increased Crypto Adoption

The Canadian crypto broker said its revenue growth was due to the growing adoption of cryptocurrency.

By Tanzeel Akhtar
AccessTimeIconJan 5, 2021 at 2:19 p.m. UTC
Updated May 9, 2023 at 3:14 a.m. UTC
Voyager founder and CEO Steve Ehrlich (right)

Voyager founder and CEO Steve Ehrlich (right)

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Cryptocurrency broker Voyager Digital (CNSX: VYGR) says its revenue for Q4 2020 is expected to reach around $3.5 million, an increase of 75% from the previous quarter.

  • In an announcement Tuesday, the Canada-listed firm said the increase is also up 3,877% from the fourth quarter of 2019.
  • Voyager further reported a December revenue run rate of over $20 million, compared to $200,000 in December 2019. A run rate is estimated revenue extrapolated from available figures.
  • Assets have continued to grow, Voyager said, increasing over three times from the September quarter to over $265 million in early January.
  • “As widespread adoption of cryptocurrency grew in the latter part of 2020, we have seen 2021 get off to a quick start and we are well-positioned to continue our extraordinary growth through 2021 and beyond,” said Stephen Ehrlich, co-founder and CEO of Voyager.
  • In October, Voyager moved to expand into Europe, acquiring LGO, a French cryptocurrency exchange primarily serving institutional investors.
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