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Friday, February 8, 2019

Cryptocurrency exchange gets listed on stock exchange - before they even officially launch...

Publicly traded... but not open to the public - yet.

We've been covering the developments surrounding the launch for months now - from the initial announcement to getting our hands on the beta software and trying it our ourselves.

The company and app are called "Voyager"and behind it are some MVP's from both the Fintech and mobile app space.  Uber co-founder Oscar Salazar, early Uber seed investor Philip Eytan, and serving as Voyager's CEO is Stephen Ehrlich, the guy who oversaw the 'trade' part of E-Trade.

First off - I admit the article headline isn't totally accurate. It gets the general point across in a single sentence. But there's some nuance here too.

Voyager isn't exactly an "exchange" because when you buy or sell through the app it's automatically searching for the best deal on 10 top exchanges at once, then executing the trade all without you ever having to open an account anywhere else.

That's how they pulled off another big selling point - no exchange fees. They will only take a cut of what they are able to save you by shopping those 10 exchanges.

Voyager will support trading for 15 tokens at it's launch, the list of them can be found here.

While today's news did indeed end with the company having a stock exchange listing, they took a creative (but fairly common) shortcut - they bought a company that already had a listing, merged with it, then renamed it.  In this case it was a mining company, and not crypto mining - minerals.  That company was called UC Resources and hasn't been active since 2015.

The newly formed company 'Voyager Digital Ltd' begins trading this Monday on TSX Venture Exchange, a subsidy operated by the Toronto Stock Exchange with a market cap of approximately $40 billion.

There's actually some advantages here for potential users, specifically on the issue of trust.  Now a "publicly traded company" Voyager will face increased levels of oversight that others currently don't.

So here's where things stand, and what's coming up next:

They've been giving everyone $25 in Bitcoin if they sign up for the waiting list to be notified when the app goes live - we've been told the list has grown to over 100,000+ people.

They've brought in Ethos in an official partnership that integrates their famous 'universal wallet' into Voyager to provide secure token storage.

They've lined up "about a half-dozen" institutional investment firms and brokers to tap into their platform's capabilities via API.

We've just learned it will all launch within the next few weeks - before the end of this month!

Get it when they launch along with $25 worth of BTC to start at TheVoyagerExchange.com

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk