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- Voyager, which was just upgraded from the CSE to the TSX, is now active in 49 states across the United States, with operations in New York pending
- Voyager plans to release a crypto-backed debit card, as well as a desktop version of its platform, in addition to its crypto investing platform
- Voyager plans to release a crypto-backed debit card, as well as a desktop version of its platform, in addition to its crypto investing platform
Investors may be seeking another method to participate in cryptocurrencies now that the sector is getting greater recognition and legality, as the price of bitcoin continues to thrill and chill in roughly equal proportion. To that end, here are a pair of crypto selections from Canada, both of which have Buy ratings.
Voyager is now active in 49 states
Voyager, which was just upgraded from the CSE to the TSX, is now active in 49 states across the United States, with operations in New York pending. The company was founded in 2018 and is situated in New York City. It presently manages over $3.3 billion in assets and has over 660,000 total funded accounts. To date, Voyager has grown both organically and inorganically through four acquisitions: wallet company Ethos in 2019, retail digital asset business Circle Invest in 2020, a merger with French crypto exchange LGO in 2020, and the acquisition of Danish digital currency payment platform Coinify, which was announced in August.
Voyager plans to release a crypto-backed debit card, a desktop version of its platform, and a full-service online broker-dealer for trading traditional equities, options, and futures, in addition to its crypto investment platform. The company recently announced quarterly earnings in July, with revenue estimated to range between $103 and $107 million for the fiscal fourth quarter of 2021. (Unless otherwise stated, all figures are in US dollars.)
Voyager’s stock has lost 20% since its TSX debut earlier this month, but analyst Adhir Kadve of Eight Capital sees a lot of potential in the stock. He started coverage on VYGR in July with a Buy rating and a C$31 target.
Crypto trading volumes were 5 times lower than US stocks
Even during the sector’s bull run in the first half of this year, overall trading volumes for crypto were still five times lower than those for US stocks and nine times lower than those for US fixed income asset classes, according to Kadve.
Voyager Digital is a digital asset-focused agency broker that is in the early stages of developing a one-stop financial services platform based on cryptocurrencies, according to Kadve’s coverage initiation on July 28. The company is led by an experienced management team with a track record of success in nascent up-and-coming industries.
BIGG Digital Assets (BIGG Digital Assets Stock Quote, Charts, News, Analysts, Financials) is another crypto-brokerage to keep an eye on. TSX: BIGG CSE: BIGG), which had a significant run-up earlier this year and has now dropped off almost as dramatically, despite the fact that the stock is still up almost 100% year-to-date.
Netcoins, an online brokerage, and Blockchain Intelligence Group, a creator of cryptocurrency compliance, search, and forensics security and accountability software, are two of BIGG Digital’s subsidiaries.