Voyager: A Next Generation Brokerage

Why cryptocurrency brokerage is different

Hamlin Lovell
Originally published in the October 2019 issue

Institutional investors such as pension funds are investing in cryptocurrencies and blockchain related enterprises – and so too are millions of smaller investors, with the younger generation most enthused about digital currencies. Their perceived transparency and democracy are two qualities that appeal to Millennials. Multiple surveys suggest that Millennials rank cryptocurrencies more highly than many conventional asset classes. Although the yellow metal, gold, is rallying strongly in 2019, 90% of Millennials prefer “digital gold” in the form of cryptocurrencies, according to the ETF store. A March 2019 eToro survey found that 43% of Millennials trust crypto exchanges over the stock market, while 71% of them would invest in cryptocurrencies. An Edelman study found 25% of Millennials aged between 24 and 38, earning at least USD 50,000 and with at least USD 100,000 of assets, are holding cryptocurrencies. Another report suggested that more Millennials may have an account with Coinbase than with traditional equity brokerages in the US. 

A growing number of traditional brokers now offer access to cryptocurrencies, but few brokers are exclusively dedicated to crypto in the way that Voyager Digital LLC. (a subsidiary of Publicly traded Voyager Digital (Canada) Ltd – the only publicly traded pure play crypto broker (VYGR on the Canadian Securities Exchange) – is. Stephen Ehrlich, CEO and co-founder of Voyager said, “We look at Voyager as the financial services firm of the future and Voyager is building infrastructure that is completely different from the equities or options world, where I spent 20 years. Ehrlich continued, the only similarity to the equities market is the fact that the market structure looks like the equity and options markets of the 1990s, where there were multiple markets with no NBBO (National Best Bid and Offer) rules enforcing best execution”. Voyager believes that Crypto traders need a broker specifically dedicated to the crypto space. One of the major differences between the Crypto market and the Equities markets is that the Equities markets trade to two decimal places whereas cryptos can trade to ten or more. Additionally, Equities settle in two days whereas cryptos settle instantly. Voyager is committed to the best possible customer service and we are beta-testing new offerings including investment and savings accounts, loan products, and margin trading”, says Ehrlich. 

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