Crypto Platform Voyager Keying in Staking, NFTS in 2022

Crypto Platform Voyager Keying in Staking, NFTS in 2022

voyager digitally strengthens staking and gets in NFTS because the company wants to diversify its sources of income after a record quarter.

The company doubled its turnover in the fourth quarter compared to the previous three -month period, managers announced on Tuesday at a conference call.

The income of $ 165 million in the last quarter-in accordance with the estimates announced in January-rose of $ 3.5 million in the fourth quarter of 2020.

The profits were more dampened with $ 2.5 million, which was drawn down by a loss of $ 16 million in the company's staking and credit business. According to Chris Allen, Analyst at Compass Point, the premiums paid to customers exceed the fees for these services. He wrote in a research note that the deficit was an improvement compared to the previous quarters.

CEO Steve honest said that he expects Voyager's staking business to be profitable at some point this year.

"We are very investing in the profit diversification because we try to reduce our dependence on the trading volume," said Ehrlich.

According to Chief Financial Officer Evan Psaropoulos, income of around $ 87 million came from transactions. Around $ 57 million came from lending and the stiling and thus exceeding the corporate goal of $ 50 million for the sector.

"The diversification of our income suggests that our quarterly minimum revenue will exceed $ 100 million even in times of lower market activities and lower cryptopians," said Psaropoulos. "The increase in sales diversification strategy and the product roadmap will only increase the minimum lower limit."

The total number of verified users rose by about 50 % to 3.2 million at the end of 2021, while the financed accounts grew by about 25 % to almost 1.1 million in the same period.

The assets on the platform grew from $ 4.3 billion to $ 5.9 billion in late September on December 31.

staking, NFTS and stock trading

Voyager now supports the staking for 11 coins, and honestly noted that the company was working on offering staking on Avalanche (Avax).

The company continues to strive for a yield of at least $ 40 million and staking income per quarter.

Voyager also hired a team to develop his NFT strategy (not fungible tokens). Honestly said the company focused on simplifying the NFT participation.

"We believe that there are so many marketplaces that consumers want to access everyone and how we deliver this entire environment are the future of NFTs," he said. "It's not just a marketplace, and that's why we are looking for a solution that includes a larger scope outside the Voyager platform."

Voyager also builds up a “brokerage of the future”, in which users can trade shares from the company's app with StableCoin USDC to finance trades.

The company presented its upcoming crypto debit card in November, which would pay up to 9 % annual premiums. Ehrlich said on Tuesday that selected employees test the card and added that the waiting list had reached 200,000 people.

Voyager meanwhile maintains plans to expand to France and other European countries this year.

Does the comparison of Blockfi Voyager influence?

Ehrlich also dealt with the agreement of Blockfi with the regulatory authorities, which he describes as "a significant development in the industry", which could offer a potential regulatory way.

According to reports, the crypto-lending platform is expected to pay fines of $ 100 million to the Securities and Exchange Commission and the state supervisory authorities because it has been claimed that it has illegally offered a product with high interest income.

ZAC Prince, CEO of Blockfi, wrote on Monday on Twitter that the comparison "shows a clear way for people to earn interest on their crypto".

honestly argued that there were differences The loyalty program of voyager , which offers rewards and blockfi-interest accounts. Voyager is in ongoing talks with the supervisory authorities, he added.

"Voyager has received inquiries and lectures from the SEC and certain countries in connection with the premium program as part of non -public investigations," said Ehrlich. "Of course we believe that voyager accounts that earn premiums correspond to the applicable US laws and look forward to proving this if necessary."

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The article Crypto Platform Voyager Keying in On Staking, NFTS in 2022 is not a financial advice.