фото показано с : blokt.com

The commission-free trading platform Robinhood must now get ready for a huge challenge. The platform that once grabbed headlines for providing zero-fee trading in cryptocurrencies will meet its rival, Voyager, backed by an Uber co-founder and an E*Trade alumnus. It will be a step ahead of Robinhood as it will support 15 cryptos, compared to Robinhood’s five.

The new Voyager platform will work as an aggregation engine and help users in selecting crypto prices on more than a dozen trading platforms. The users can then decide the best buying and selling prices. This could also open arbitrage trading opportunities on the platform. Voyager intends to place itself in direct competition with Robinhood, the zero-fee stock trading app that later expanded into virtual currencies.

Voyager’s CEO, Stephen 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.”

According to Ehrlich, the company intends to make up for the lost revenue on account of the waived fees “by beating the average price of coins at the point in time [it executes] the trade.”

The new trading avenue believes that it could execute buy-and-sell orders consistently at better prices than what customers can get by visiting just one exchange. Note that it will show prices from 10 crypto exchanges, as well as three additional market makers. These platforms will be based in the US, as well as overseas.

Ehrlich, who is also the founder and former CEO of retail brokerage Lightspeed Financial, ran the professional trading arm of E*Trade. He implies that a multiexchange policy could help in maintaining liquidity in the coins. He first became interested in the virtual coin sphere one year ago, and now his experience with previous ventures could help in shaping the future of Voyager.

The other people involved in the platform are founding the architect and CTO of Uber, Oscar Salazar, who will work as the main tech advisor at Voyager. He is also an investor in the company, who has raised “significant capital” from family and friends. Chief Product Officer Gaspard de Dreuzy and Board Chairman Philip Eytan are co-founders in the venture. Eytan was an early investor in Uber.

Voyager will enter beta testing this week, and the app will become public by the end of October.

Robinhood Has a New Competitor Backed by Uber Co-Founder and E*Trade Alumnus was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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