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.
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