Sequel to securing US$1.5 million in a funding round fostered by US-based Bittrex, South African Startup VALR is set to launch its digital asset trading platform.
The VALR trading platform will enable clients to buy, sell, stock and transfer cryptocurrencies easily and securely with options of a variety of digital assets.
Also, VALR will have the technology of the US-based Bittrex on its side after it became its lead investor.
According to Disrupt Africa, registration is now open for VALR, which is launching with a “Simple Buy/Sell” feature, allowing customers to seamlessly and instantly trade between bitcoin or ether and over 50 cryptocurrencies. 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.
In the future, it 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.
Speaking on the development, the Chief Executive Officer 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.”
On the other hand, Bittrex CEO Bill Shihara stated that his company was committed to advancing blockchain technology around the world.
He said, “Our partnership with VALR gives us the opportunity to help drive adoption of this revolutionary technology in new markets.
“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 supports the blockchain industry but also incubates innovative projects using this emerging technology, as we further expand our global footprint.”
