Uber, E*Trade Vets to Launch No-Fee Crypto Exchange

A new cryptocurrency exchange is set to launch with no-feed trading – and it's got some notable backers behind it.

AccessTimeIconJul 25, 2018 at 3:50 p.m. UTC
Updated Sep 13, 2021 at 8:12 a.m. UTC

A new cryptocurrency exchange is set to launch with no-fee trading – and it's got some notable backers behind it.

Voyager, according to a report from Fortune, is founded by the co-founder of Uber, Oscar Salazar, as well as one of the ride-hailing app's early investors, Philip Eytan. Voyager's CEO is Stephen Ehrlich, the former CEO and founder of retail brokerage Lightspeed Financial, who also previously ran the professional trading arm for online stock broker E*Trade before it was bought by Lightspeed.

The focus on no-fee trading is a notable one, putting Voyager in the same class as trading app Robinhood – that is, seeking to upend the market's status quo by stripping away some of the costs associated with trading cryptocurrencies.

To start, Voyager plans to list 15 cryptocurrencies, drawn from the list of the 25 best-performing networks, including bitcoin, ethereum and bitcoin cash, among others.

Ehrlich told Fortune that Voyager is "leaning towards" including such cryptocurrencies as XRP and Stellar's lumens at present.

"If you see it being traded today by some of the most prominent players, we will definitely have those plus some," Ehrlich said.

Beta testing of the platform begins this week, the company told Fortune, and traders will be able to download the exchange's app by the end of October. Voyager also intends to add support for crypto news and analysis, as well as additional tools for the institutional investor segment.

According to Voyager, the exchange is in the process of securing licenses in U.S. states. "We don't think crypto has been adopted yet by the masses in the United States," Ehrlich was quoted as saying.

Editor's note: A previous version of this article said XRP and XLM are not listed by any major U.S. exchanges at present.

Image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.