February 08, 2019 — ADVFN Crypto NewsWire — Last summer a new cryptocurrency exchange made headlines for big name founders and a novel method bringing licensed cryptocurrency trading to retail investors. CEO of Voyager cryptocurrency exchange Stephen Ehrlich worked previously with E*Trade, and co-founder Oscar Salazar is was the Founding Chief Technology Officer at UBER.
One of the biggest issues for cryptocurrency related businesses is custody services and security. For exchanges, many have gone the route of using a third party financial institution that is licensed to handle cryptocurrencies to accept fiat deposits and withdrawals, while others simply don’t support this feature. Voyager attempts to take the best of decentralized exchange features with the proper regulatory compliance of other exchanges like Coinbase.
A Router Exchange
Rather than being a true exchange, Voyager sources exchange rates from a pool of other cryptocurrency exchanges. This process is exactly what ShapeShift.io operates with, but in contrast, Voyager will have institutional grade KYC and AML requirements, and offer fiat currency deposits and withdrawals as well. This method drastically increases liquidity for users, but does not guarantee them the best trading prices. However, to compensate for this Voyager will off totally commission free trading, with no minimums. Other features include:
Instant account opening and funding in fiat and cryptocurrencies
Access to 15 of the most popular digital assets
Smart order routing of a mix of exchanges based on market conditions
High speed fiat/coin and coin/coin trading
Live news, social feeds and alerts the market
Intuitive interface and advanced tools to trade via research and tracked investments
24/7 customer service through instant chat and phone
The new exchange platform is coming close to public launch, and has been in beta testing since June. At that time, they had earned licensing in five U.S. states, and are now to a total of 10. To help gain positive press and the ability to move forward with more U.S. and international licensing, the company itself will be publicly listed soon on the TSX Venture Exchange in Canada.
A reverse merger valued at $60 million between New York-based Voyager Digital Holdings and UC Resources Ltd. is making the public listing possible. Voyager acquired UC Resources Ltd. which closed their mineral exploration operations in 2015 in an entirely stock funded deal. The new organization, Voyager Digital (Canada) Ltd., will begin trading on Feb. 11. The company hopes to continue with mergers that will expand their business model:
“We’re actively looking for parts of the crypto ecosystem that fit with us, that fit with our mission and our culture. Having cash plus a public currency will make us more efficient and give us more opportunities.” – Stephen Ehrlich
By: BGN Editorial Staff