Uber Co-Founder Launches Institutional Crypto Trading Platform

Despite a multi-month bear market, institutional investor interest in digital assets continues to take rise. To meet increasing demand, crypto-asset broker Voyager is launching a new, institutional division.

Voyager Prepares for Incoming Institutional Capital

Earlier this week, Voyager Digital Holdings Inc. unveiled its Voyager Institutional brokerage for professional investors, reports Traders Magazine.

Voyager Institutional plans to deliver a “best-in-class trading solution” for hedge funds, buy-side firms and market makers through a secure application program interface (API) that can connect directly with its existing user interfaces.

Related: Morgan Stanley Reveals Plans to Offer Bitcoin Swap Trading

The institutional division will also offer data and custody services and plans to launch in late Q4 2018.

Based in the Philippines, Voyager was founded in 2016 by Stephen Ehrlich and Oscar Salazar, the original chief technology officer and co-founder of Uber.

In an interview with Traders Magazine, Ehrlich, CEO of Voyager, said:

“Expanding our offering and leveraging our infrastructure to include the institutional community was always a part of our long-term strategic roadmap.”

Adding to his statement, Ehrlich discussed the opportunity to draw institutional capital into a sector that is still in its early stages:

“Based on the sheer number of conversations since we announced our retail offering, it’s clear that there is a void in the marketplace and an immediate desire by institutions to participate in and offer their clients access to this emerging asset class without the significant resources, costs and time that would be required to develop an in-house solution.”

To head its new division, Voyager hired Glenn Barber to serve as its chief institutional officer. Previously, he was the managing director at Equities and co-head of the Deutsche Bank’s Global Program Sales desk. Barber will be based out of Voyager’s New York City offices.

Voyager also plans to accommodate retail investor interest through a commission-free mobile trading application that is currently in beta. The trading platform, which utilizes proprietary smart order routing technology to deliver quick executions, appears to be in close competition with other popular zero-fee exchanges like Coinbase and Robinhood.

Cover Photo by Dmitri Popov on Unsplash

Posted In: Adoption
Invest with AMFEIX

Like what you see? Subscribe to CryptoSlate

Get our daily newsletter containing the top blockchain stories and crypto analysis straight to your inbox.

Sign up to stay informed
Jonathan Kim

Jonathan Kim

Former Journalist @ CryptoSlate

Jonathan Kim is a University of Washington student of Finance and cryptocurrency investor with a deep interest in the emerging industry of blockchain applications and cryptocurrency trading. His past experiences involve publishing original daily content for blockchain startups and trading cryptocurrencies using technical analysis principles.

View author profile

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.