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Voyager Digital Ltd. reported preliminary revenue and user metrics for Q1 fiscal 2022, ending September 30, 2021. The company noted total funded accounts exceeded 860,000, a 29% increase from June 30, 2021, and verified users grew to over 2.15 million, up 23%. However, preliminary revenue is estimated at $63 to $67 million, down from $109 million in the prior quarter. Net new deposits were approximately $827 million compared to $1.62 billion previously. The company aims to diversify revenue through staking rewards, projecting $40 to $50 million for the December quarter.
Voyager Digital announced preliminary metrics for Q1 FY2022, highlighting continued user growth and a revenue estimate of $63-$67 million, down from $109 million in Q4 FY2021. Funded accounts rose 29% to 860,000, while verified users increased 23% to 2.15 million. However, net new deposits dropped significantly to $827 million from $1.62 billion. CEO Stephen Ehrlich noted a rebound in trading volume and plans for international expansion and product diversification, including staking rewards projected to generate $40-$50 million in revenue for Q2 FY2022.
On October 1, 2021, Voyager Digital Ltd. (OTCQX: VYGVF) announced a strategic investment in Fundstrat, a prominent research boutique, becoming its exclusive US partner. The $6 million investment will be made through 601,504 common shares. This partnership aims to integrate crypto research into Voyager's platform, enhancing access to market data and insights for users. Both companies share the goal of fostering community education in the evolving crypto landscape, making research more accessible to traders and newcomers alike.
Voyager Digital Ltd. has appointed Rakesh Gidwani as its new Chief Technology Officer to lead platform and system expansion. Rakesh, previously from Two Sigma Investments, brings extensive experience in engineering and technology management, having worked with high-growth startups and major firms like Goldman Sachs. His role is crucial as Voyager aims for international expansion and plans to increase its customer base to over 10 million. This leadership change aligns with Voyager's recent growth of 800% in the past year, now employing over 225 full-time staff.
On September 8, 2021, Voyager Digital Ltd. announced a partnership with Rob Gronkowski, a four-time Super Bowl champion. Gronk will serve as a brand ambassador, shareholder, and holder of the Voyager Token (VGX). This collaboration aims to popularize cryptocurrency investing through engaging marketing campaigns, starting with the 'New Best Friend' series. Gronk emphasizes the advantages of Voyager's user-friendly app, which offers 60+ coins and up to 12% annual rewards. This partnership continues Voyager's efforts to strengthen ties with sports personalities to broaden its market presence.
Voyager Digital, a leading cryptocurrency platform, announced its uplisting to the Toronto Stock Exchange (TSX) effective September 7, 2021, trading under the ticker 'VOYG'. The company achieved a significant milestone, reaching $5 billion in customer assets under management (AUM) and boasting close to 2 million verified users. This move from the CSE to the TSX reflects Voyager's rapid growth and strengthens its position in the cryptocurrency market, further expanding its global investor base.
Voyager Digital Ltd. (OTCQB: VYGVF) announced its participation in three investor events in September 2021. These events include the H.C. Wainwright 23rd Annual Global Investment Conference on September 13th, the Singular Research's Compelling Values Webinar on September 16th, and the BTIG Future of Digital Assets Conference on September 22nd. Voyager, a rapidly growing cryptocurrency platform, offers trading in over 60 crypto assets with zero commissions and rewards up to 12% APY on select cryptocurrencies.
Voyager Digital Ltd. (CSE: VYGR, OTCQX: VYGVF) completed a landmark token swap merging the VGX and LGO tokens, creating a new VGX token with a market cap exceeding $900 million. This swap enhances utility by introducing on-chain staking rewards and will be pivotal for the upcoming Voyager Loyalty Program. The swap, facilitated by Republic Crypto, involved converting tokens through new smart contracts on the Ethereum blockchain. Initial trading activity saw 100 million tokens swapped within 48 hours, signifying strong community engagement.
Voyager Digital has received conditional approval to list its common shares on the Toronto Stock Exchange (TSX) under the new ticker symbol VOYG, while voluntarily delisting from the Canadian Securities Exchange (CSE). This move is aimed at increasing exposure to a larger investor base as the company reports accelerating revenue from its crypto trading platform. Voyager has also filed a Base Shelf Prospectus allowing for offerings up to US$300 million over 25 months, although there is no certainty of such offerings occurring.
Voyager Digital has announced a joint venture with Market Rebellion, following FINRA's approval for Market Rebellion's 50% investment in VYGR Digital Securities, LLC. This partnership aims to integrate equities, options, and futures trading on the Voyager platform, enhancing its brokerage services. With the joint venture, Voyager seeks to provide an all-encompassing trading experience, allowing its users to engage in diverse trading options. The collaboration is expected to introduce more tools and services for customers, reflecting Voyager's commitment to empowering users on their financial journeys.
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