Uber to release no commission Cryptocurrency Exchange.
July 26, 2018 12:18 pm,
The new Cryptocurrency exchange by the name of Voyager is set to go live at the end of 2018. It is a mobile trading app, which offers no trading fees for cryptocurrencies. It offers traders access to the commission-free trading of 15 cryptocurrencies drawn from the list of the 25 best-performing networks, including bitcoin, ethereum, and bitcoin cash, among others.
Voyager is headed by Stephen Ehrlich, the former CEO and founder of retail brokerage light speed financial who also previously ran the professional trading arm of online stock broker E*Trade. The start-up’s other co-founder include Philip Eytan, an early Uber investor, and Oscar Salazar, the former chief technology officer of the ride-hailing company.
This No-fee trading platform promises to enter the US market with a big impact. Currently, the platform is licensed in California, Massachusetts, Missouri, New Hampshire, and Montana, with the company hoping to eventually service at least forty U.S. states. The company has also indicated that it intends to offer exclusive services for institutional investors.
This multi-exchange platform will help aggregate and unify a largely fragmented ecosystem, offering retail investors fast execution and better pricing. Additionally, there is best in class security practices in line with banking, brokerage and healthcare standards offering investors a safe and secure environment to invest in this new asset class.
Voyager has a competitive advantage as it has the ability to make more in revenue by beating the average price of the coins. Based on the claims made, it appears that the app will provide users with prices from 10 different crypto exchanges to show that that of Voyager’s is much more inexpensive compared to common platforms like Coinbase and Binance.
This platform seeks to compete directly with Robinhood that is a popular stock trading app that hosts commission-free trading for BCH, BTC, ETH, LTC, and DOGE pairings.