Voyager Digital Hires Tim Mund

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Voyager Digital (TSE: VOYG) announced Wednesday that Tim Mund has joined the company as Head of US Payments Sales.

Expanding Payments Product Line in the US 

Head of US Payments Sales is a newly created role. Mund will be responsible for the sales and go-to-market strategy for Voyager’s payment solutions, and for building the customer pipeline with key merchants and payment service providers (PSPs) to integrate Voyager technology with their payment systems and networks.

Mund has spent the past 20 years in executive and corporate sales roles at financial technology and communications companies such as Recognia, Kinetix, 29West, CenturyLink and RingCentral.

CEO Commentary 

Voyager CEO and co-founder Steve Ehrlich said, “Voyager’s recent acquisition of Coinify enables consumers to transact using cryptocurrencies with fiat settlement. With the addition of a top sales executive like Tim, we are positioned to expand our payments product line in the US and help PSPs accept crypto, reduce transaction costs, and increase efficiency across the entire payment chain, adding significant value for merchant and end user buyers.”

Wall Street’s Take 

On January 9, Keefe Bruyette analyst Kyle Voigt initiated coverage of VOYG with a Buy rating and C$19 price target. This implies 41% upside potential.

Voigt stated that Voyager offers investors “unique exposure” to the growth in the underlying crypto market and “holds a number of meaningful, idiosyncratic opportunities ahead.”

The analyst sees potential for a “material upside” in the stock thanks to the company’s international expansion, the launch of a stock brokerage firm, as well as new services such as traditional lending.

The rest of the Street is bullish on Voyager with a Strong Buy rating based on five Buys.

The average Voyager Digital price target of C$28.05 implies 108.1% upside potential to current levels.

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