Coinbase competitor Ethos paving their road to fiat gateway with a new partnership!

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Yesterday, September 27, Ethos.io and Voyager Digital Holdings formed a strategic partnership to bring fiat-to-crypto and vice versa trading to Ethos universal wallet users and to enhance wallet solutions and self-custody on Voyager’s retail and institutional platforms. 

On Voyagers’ side, this partnership would improve their wallet functionalities and self-custody optimization while on the Ethos side of the partnership this formation would improve the current Ethos wallet user experience by allowing seamless converting, storing and trading their digital assets, all on one platform, thus being one of the first platforms to do so. With the help of Voyager, Ethos universal wallet users will be able to covert fiat to the Ethos token and vice versa.

Voyager on the other side, will integrate Ethos Bedrock for self-custody on their platform along with the Ethos Universal Wallet in their offerings. All this is done to enhance the Voyagers’ plans to launch their own mobile trading app in Q4.

“With this transformative partnership in place, we believe we are offering the first end-to-end, fully integrated solution in the crypto asset space,” commented the CEO of Voyager, Stephen Ehrlich.

And Shingo Lavine, the CEO of Ethos said that “Voyager gives our users the power of fast, commission free trading, using their smart order router and liquidity network. For Ethos Universal Wallet users, this means that a low-fee fiat gateway will be a future enhancement, first for our U.S. clients and then rolled out globally,” adding that “this partnership creates a true bridge between traditional and institutional finance within the crypto-asset market to create a dynamic and borderless financial ecosystem.”

The way how I see it.

Referring to a recent announcement by Coinbase, on their willingness to implement as many as possible assets to their platform, I believe that this was a strategic move done in the result of this already mentioned partnership. I think that when Coinbase found out about this partnering, they immediately understood that Ethos could become a major competitor. So they went out on CNBC Fast Money to announce their new “idea”, which Ethos has been promoting since the day they rebranded. Since Coinbase most definitely has more users than Ethos, Coinbase would grab the market with ease, while Ethos still has to gain trust in the hearts of its users since their app is currently pretty useless. All this also applies to the new Coinbase updates on educating their users with Informational Asset Pages and Coinbase Learn. Since Ethos is offering their users a similar service, all this is sort of coming together. Ethos is a serious competitor to Coinbase, and Coinbase just acknowledged it by their premature announcement, which a lot of users have been waiting since the beginning of this year.

Hopefully, these two platforms could co-exist in the future, and the fiat-to-crypto gateway goes as smoothly as planned.

Source:

https://goo.gl/gaHjEP