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VALR launches perpetual futures pairing Bitcoin against South African Rand

valr-launches-perpetual-futures-pairing-bitcoin-against-south-african-rand
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Press Releases
VALR launches perpetual futures pairing Bitcoin against South African Rand

Johannesburg, South Africa, Nov. 22, 2023, Chainwire

VALR, Africa’s top cryptocurrency exchange by trading volume, is introducing Bitcoin and USDT perpetual futures paired against the South African Rand (ZAR).

VALR launches perpetual futures pairing Bitcoin against South African Rand - 1

With the launch of the BTC/ZAR and USDT/ZAR perpetual pairs, VALR has also listed the BTC/USDT perpetual future, providing an alternative to platforms like Binance, ByBit, and Kraken.

Unlike their traditional finance counterparts, perpetual futures have no expiry date, enabling more sophisticated risk-management strategies and becoming the most traded crypto-related instrument, accounting for over 75% of global crypto trading volumes.

VALR will initially permit up to 5x leverage across all perpetual markets, enhancing capital efficiency for traders.

Gianluca Sacco, VALR’s chief operating officer, said:

“We’ve built what we believe is the most seamless futures product in the entire industry. Our customers can trade across spot, spot margin and perpetual futures markets, all from a single account, utilizing a single source of collateral. Trading perpetuals has never been so smooth.”

The introduction of perpetual futures on VALR follows the launch of spot margin trading and the crypto exchange’s recent partnership with Visa, the world’s largest payment network.

VALR also received approval to offer crypto services in Europe and is actively pursuing licenses in Mauritius and Dubai, having received initial approval from Dubai’s Virtual Assets Regulatory Authority (VARA).

Farzam Ehsani, VALR Co-Founder and CEO, added:

“We have already received feedback from our institutional customers that what we’ve built puts VALR in a strong position to compete as one of the up-and-coming global exchanges. This is testament to the incredible amount of effort and dedication that our entire team has put into building this world-class product.”

For the initial phase, perpetual futures trading will be exclusively available on VALR.com, with mobile app support coming soon.

VALR, established in 2018 has already processed over $10 billion in trading volume and secured $55 million in equity funding. It serves over half a million retail customers and over 900 corporate and institutional clients.

Its investors include Coinbase Ventures, Pantera Capital and Avon Ventures, a venture capital fund affiliated with the parent company of Fidelity Investments.

Futures trading services are provided by a VALR Group entity, VALR DAM Proprietary Limited, as a juristic representative of Prime Asset Managers (Pty) Ltd (an authorised financial services provider in South Africa registered under the FAIS Act, 37 of 2002 under FSP number: 33933).

About VALR

VALR is a digital asset exchange headquartered in South Africa, allowing individuals and institutions to trade, store, and stake a variety of crypto assets. Launched in 2018, VALR supports multiple cryptocurrencies, offers competitive trading fees, and has a user- friendly platform.

To discover more about VALR and its offerings, visit www.valr.com or follow us on Twitter and Instagram @VALRdotcom.

Contact

VALR
[email protected]

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