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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.