While the cryptocurrency community watches as virtually all currencies are starting to show a rebound, there is potentially other good news for US traders. Voyager Digital, a crypto asset broker co-founded by Uber’s former chief technical officer (CTO) and a former Wall Street executive, has announced that it expects to launch a new mobile cryptocurrency trading app by the end of this year.
In a press release, Voyager said that it will give traders a “institutional-grade platform delivering best execution via smart order routing technology for trading a wide choice of popular crypto assets.” It adds that Voyager will be a “single access point for investors to efficiently and securely manage all their crypto assets in one place…”
What makes the platform even more enticing is the fact that users will not be charged any fees on their trades, and Voyager will not require minimum amounts in the orders.
The brokerage will use smart order routing (SOR) for Voyager. SOR is a software application used extensively by banks and brokers in markets and utilizes an algorithm to direct buy/sell orders across different trading venues in an effort to enhance the execution of the orders.
Stephen Ehrlich, who founded Lightspeed Financial, and former Uber CTO Oscar Salazar co-founded Voyager Digital with Gaspard de Dreuzy and Philip Eytan. Ehrlich serves as the company’s CEO, and said that the project was born out of the realization that the group had “a shared vision for how impactful this alternative asset class will become coupled with a belief that crypto-assets are empowering a new generation of investors…”
Ehrlich added, “Our multi-exchange platform will help aggregate and unify a largely fragmented ecosystem, offering retail investors fast execution and better pricing. Additionally, we have developed and adopted 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.”
Among the characteristics that will be included in Voyager are: instant accounting opening and funding in fiat or crypto with no minimums, access to at least 15 of most popular digital assets, smart order routing and high-speed coin-to-coin and fiat-to-coin trading with no commissions.
Salazar said of the project, “Our goal is to become a trusted agent and guide users through the new world of cryptos. So we created an open architecture platform that is fully scalable to deliver a simple and intuitive user interface. It also provides access to a suite of tools and functionality including trading alerts, social media feeds and news, all to help users make smarter and more informed decisions.”
Voyager is now in beta testing with a target launch of the last quarter of this year in New Hampshire, Montana, Massachusetts, Missouri and California. The company has pending registrations in other states and ultimately hopes to roll out the platform to over 40 approved states.