Commission-free crypto broker Voyager reports $1.1 million revenue for FY 2020

Commission-free crypto broker Voyager Digital has reported around $1.1 million in unaudited revenue for the fiscal year 2020 ending June 30.

The revenue figure is a sharp increase compared to $87,318 reported for the previous fiscal year. Voyager’s Q4 revenue grew 701% year-over-year to around $700,000.

The broker also reported sharp growth of 750% in user accounts to 86,000 for FY 2020, compared to 10,000 as of FY 2019. The principal value traded jumped to $165 million for FY 2020 compared to $20 million for the previous year.

The financial results come amid Voyager’s increasing support for crypto assets, including Compound (COMP), Maker (MKR) and DAI, as well as its recent acquisition of Circle Invest. The deal added more than 40,000 retail accounts to Voyager’s customer base.

Looking ahead, Voyager plans to support more crypto assets and fiat currencies, as well as expand internationally. The broker also plans to seek a BitLicense from the New York State Department of Financial Services (NYSDFS) to operate in the state.

Founded in 2017, Voyager is registered with the U.S. Financial Crimes Enforcement Network and is publicly traded on the Canadian Securities Exchange. Today’s financial results have shot up Voyager’s stock price by around 20% to about $0.75 as of the time of writing.