Voyager Digital Surpasses $200 Million in Assets Under Management
- Voyager Digital is currently working on a desktop platform, debit/credit cards, and other new products.
- Voyager stated it has received more than $50 million in total net daily deposits since the beginning of November.
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The “commission-free” crypto trading app, Voyager Digital, has announced a new milestone growth, this time exceeding $200 million in assets under management (AUM). The press release on December 28, comes roughly a month and a half after Voyager’s previous growth announcement. Back then the company surpassed $100 Million in AUM, as covered by The Chain Bulletin, which is a 100% increase since the beginning of November.
The United States-based crypto-asset broker reports “unprecedented levels of net daily deposits”. This assumption, as stated by the company, is based on more than $50 million in total net daily deposits since the beginning of November.
Co-founder and CEO of Voyager, Steve Ehrlich, was quite satisfied with the progress of the platform, sharing that this increase in daily deposits is proof of the support that Voyager receives from the community. Stating that “Voyager is firing on all cylinders as we enter 2021,” Ehrlich explained that thanks to the trust of its users, the app will be able to deliver new products such as the desktop platform (already in beta stage), debit and credit cards, and margin offerings in a timely manner.
As for the company’s aim for 2021, Ehrlich explained Voyager plans to bring its “regulatory compliant and transparent platform to the masses”, namely via an expansion to Canada and Europe.
December was a busy month for Voyager. At the beginning of the month, the app added support for USDC and Algorand Standard Assets (ASA), which intended to increase the robustness of both the Algorand ecosystem and the Voyager Platform while contributing to the growth of the DeFi space.
Just a couple of days later, Voyager Digital became the first digital asset agency broker in the U.S. to list Avalanche (AVAX), making the token available to non-accredited U.S. investors.
- The U.S. Bankruptcy Court in New York has given Voyager the green light to return $270 million in cash, locked up at the Metropolitan Commercial Bank, to its customers.
- An attorney for Voyager claimed the company had received a number of “higher and better” offers than the one from Alameda and FTX, which was one of the lowest received so far.
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- The Federal Reserve and FDIC have issued a joint letter demanding the crypto lender remove “false and misleading” statements that it was FDIC-insured.
- The two regulators alleged that this claim “likely misled and were relied upon by customers who placed their funds with Voyager “.
- Autorité des marchés financiers and Autorité de contrôle prudentiel et de résolution have agree that Voyager is “fit and proper” to operate in Europe.
- Voyager expects to launch its trading app in Europe in Q1 2022, and facilitate the trading of 60 digital assets.