VYGVF - Voyager Digital (VYGVF)(VOYG:CA) - NobleCon 18 Presentation
NobleCon 18. Voyager CEO Stephen Ehrlich presented at NobleCon 18. The Company highlighted the potential for continued user growth through higher industry adoption, their app, and expansion of products and markets. A rebroadcast is available at https://noble.mediasite.com/mediasite/Catalog/Full/4ec6170801b441318e66ea53d53540a421. Growing Consumer Market. The crypto asset market is expected to reach 1 billion users in 2024, with younger investors being at the forefront of this growth, as most of the Americans Voyager surveyed wanted to learn more about crypto (55%) including millennials (67%). Millennials are a part of Voyager's largest demographic, alongside Gen Z users, and we believe that continued interest from these generations will bode well for the Company's future.All on the App. Voyager provides an easy-to-use and relatively fast approach to investing in crypto, as the average user can spend less than three minutes to download the app and to deposit money into it versus more traditional platforms. This app has seen higher rankings on the Apple App Store, all while the Company has a more direct to consumer marketing approach, costing less than peers.Expansion of the Platform. Management showcased its debit card that will be coming out soon to consumers, while also expanding on products to now include NFTs (expected by the end of June) and more coins, while also introducing equity trading based on the USDC coin. They are also looking into credit cards and collateralized loans. As for geographic expansion, the Company is working to get the app to Canada while building a waiting list for a rollout in France, both expected in 2022.Maintaining Outperform and $15 PT. With the states' cease and desist orders being an unfortunate speed bump, in our view, it does not alter the long-term fundamentals for the Company. As such, we are maintaining our Outperform rating and our $15 12-month price target. We continue to believe Voyager is a leader in the emerging crypto space. Read More >>