VALR, a South Africa-based crypto trading platform is set to launch its digital asset trading platform after securing a US$1.5 million fund led by the US-based Bittrex. It plans to leverage the technology of BIttrex: a digital asset trading platform to offer a wide selection of digital assets. On it, customers can buy, sell, store and transfer cryptocurrencies seamlessly and securely.
VALR is launching a “Simple Buy/Sell” feature that allows customers seamlessly trade over 50 cryptocurrencies between bitcoin and ethereum. VALR’s platform uses artificial intelligence and machine learning to streamline the ID verification process, allowing new customers to be fully verified in as little as a few minutes.
Farzam Ehsani, CEO of VALR said “We are delighted to bring South Africans the largest crypto-offering the country has ever seen in collaboration with Bittrex, one of the most advanced, secure and compliant platforms worldwide. Our partnership gives our customers direct access to international liquidity, globally competitive prices and leading security practices. We look forward to advancing the crypto industry in South Africa and beyond.”
See also: Crypto Platform, Revix Receive R11m in Investment
Bittrex CEO Bill Shihara said that his company was committed to advancing blockchain technology around the world.
“This platform, powered by Bittrex technology, will provide South African customers with a reliable, fast and secure trading option that will also give them access to some of the world’s most innovative blockchain projects. We will continue to explore partnerships like this one that not only support the blockchain industry, but also incubate innovative projects using this emerging technology, as we further expand our global footprint.”
In the future, VARL will offer rand-to-crypto trading as well as more advanced crypto-to-crypto trading options, with the Bittrex partnership giving VALR access to all cryptocurrencies and digital tokens available on both the Bittrex and Bittrex International platforms.
More on TechGist Africa:
- Reserve Bank proposes stricter cryptocurrency regulations for South Africa in 2019
- SA’s Coindirect Raises 1 Million Pounds in Investment Round
- SA Based Insurtech, CTRL Receives Investment from Santam
- SA Set to Receive 10 billion USD Telecommunications Investment
- Copia Receives $2m Equity Investment from Goodwell
