Johannesburg, South Africa, June 3, 2024, Chainwire reported
Pantera-backed cryptocurrency exchange VALR has announced a major milestone, with futures trading volumes doubling in May from March records. The exchange reported that its perpetual futures markets traded more than $50 million in May.
This significant increase in trading volume coincides with the launch of the VALR Grand Slam, an innovative 12-month trading competition that rewards high-volume traders. The competition has one of the largest prize pools in cryptocurrency history, offering up to $60 million in USDT. The latest round of the Grand Slam competition just kicked off in June, and participants can track the leaderboard at valr.com/grand-slam.
VALR’s futures portfolio was launched in November 2023, initially offering only three trading pairs, including the world’s first rand-settled cryptocurrency futures pair. However, the exchange has recently expanded its selection of trading pairs, now featuring more than 17 pairs, with more listings planned.
Looking ahead, VALR expects to continue to achieve accelerated growth as it partners with the world's best traders and attracts more and more global users. To support this growth and welcome new users, VALR will be hosting a special promotion throughout June. All new users who join in June will have the opportunity to unlock a Bitcoin mystery gift on VALR.
VALR also recently received a new Crypto Asset Service Provider (CASP) license from the Financial Sector Regulatory Authority (FSCA) of South Africa, becoming one of the first cryptocurrency companies in the country to receive both Type I and Type II CASP licenses. This regulatory milestone reflects VALR's strong commitment to compliance, security, and providing a trusted cryptocurrency platform.
About VALR
Founded in 2018, VALR is a global cryptocurrency exchange that serves more than 1,000 corporate and institutional clients and more than 500,000 users. Johannesburg-based VALR is licensed by the Financial Sector Regulatory Authority of South Africa and approved to provide services in Europe. The company has raised $55 million in equity funding from some notable investors, including Coinbase Ventures, Pantera Capital, and Avon Ventures, which is associated with Fidelity Investments' parent company.
VALR (Pty) Ltd is a company that holds a Financial Services Provider License (FSP #53308). Futures trading is provided by VALR DAM Pty Ltd as a legal representative of CAEP Asset Managers Pty Ltd (FSP No.: 33933), an authorized Financial Services Provider.
For more information, visit valr.com
Contact Details
VALR
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