The news first comes while a press is mentioned on a business wire outlet, detailing a new multiple-exchange Crypto Asset Brokerage is coming forth with Commission-Free Mobile Trading in Q4.
Reports by Fortune states that Voyager is the venture of Oscar Salazar, a co-founder of Uber and Philip Eyta, early Uber investor and founding investor in Livestream and Socure. It is a crypto-asset brokerage firm that offers best execution, data and custody services.
Voyager’s new Fee free crypto trading will have the pairing of at least fifteen cryptocurrencies including BTC, BCH, and ETH. Stephen Ehrlich, CEO at Voyagers told Fortune that they are on plan to add other cryptocurrencies such as XRP and Stellar lumens which is, however, lacking among leading crypto exchange in the US such as Coinbase and Circle.
He said “If you see it being traded today by some of the most prominent players, we will definitely have those plus some,”
Competing – Robinhood trading app
No-free trading feature is more similar to Robinhood trading app which is focusing on tip up the market situations by hosting commission free treading for five cryptocurrencies at present. These include BTC, ETH, BCH, LTC and DOGE pairings.
How Voyager’s no free trainding App works?
Coming week, Voyager is likely to have beta testing of its trading platform. Also, the release may probably happen by the end of October. Besides these, the firm is also planning to offer other core crypto features such as cryptocurrency news and analysis.
It intends to offer similar prices that are available on ten cryptocurrency exchanges and three additional market makers. It hopes to heave liquidity through better prices via its new platform. Eventually, Voyager brings investors and traders a single point wherein they can trade and manage assets across multiple cryptocurrency exchanges, by purging up fees to place orders. They can consistently execute buy and sell orders at better prices than a person’s experience on one exchange.
Mr. Ehrlich said,
“We saw an opportunity to build a dynamic smart order router that can take advantage of the marketplace. And also offer customers no commissions.”
While discussing, he said that
“by beating the average price of the coins at the point in time we execute the trade”, the firm will make up the difference in revenue.
BitLicense On Core
Voyager’s trading product seems secure as it approved in states like Massachusetts, California, Missouri, New Hampshire and Montana. However, they required to be approved still in other states including NewYork since they need to have BitLicense to operate cryptocurrency exchange business.
Mr. Ehrlich points out their opportunity to flourish in the cryptocurrency market, explaining
“We don’t think crypto has been adopted yet by the masses in the United States,” he says. “I believe the market space itself is extremely large…We think the opportunity for both retail and institutional is vast. And we want to be part of that, and help the industry grow, and be good citizens to the industry. Also, we do help people get more knowledgeable in crypto assets