Voyager, a startup established by one of the Uber's co-founders in partnership with other entrepreneurs and investors revealed on July 25, that it plans to launch a cryptocurrency exchange platform with no trading fees. According to the plan, the platform will provide trading for at least 15 cryptocurrencies, including Bitcoin (Bitcoin) and Ethereum (ETH/USD).
The platform will become an aggregator of cryptocurrency prices on more than a dozen exchange platforms enabling the buy-and-sell of the digital currencies at the best available price among the different options consulted. Voyager believes it can execute orders at better prices than customers usually get when visiting a single platform such as Coinbase or Binance. The company will compensate for the absence of commissions, the source of income for most cryptocurrency exchange platforms, by exceeding the average price of cryptocurrencies at the time they execute trading. By setting zero commissions Voyager will compete with Robinhood, a mobile stock trading application that also offers zero fees for the trading of five cryptocurrencies.
The platform goes into beta testing later this week and the company expects to launch its mobile application for trading without commission until the end of October. It also plans to offer additional features for hedge funds and other institutional investors as well as to provide its users with the current crypto news on its mobile application - to aid investors at better navigating in the crypto market.