The leading African cryptocurrency exchange, VALR, has introduced innovative financial instruments to its platform, including Bitcoin and Tether (USDT) perpetual futures paired with the South African Rand (ZAR). These additions, which include the BTC/USDT pair, are significant for traders as they don't have an expiry date and offer up to five times leverage.
COO Gianluca Sacco praised the platform's integrated trading ecosystem that combines spot, margin, and futures markets using a single collateral source. This development follows the exchange's success in spot margin trading and a collaboration with Visa (NYSE:V).
VALR's growth is further underscored by its recent European regulatory approval and its pursuit of licenses in Mauritius and Dubai, having already received a preliminary nod from the Virtual Asset Regulatory Authority (VARA) in Dubai. Founded in 2018, VALR has achieved over $10 billion in trade volume and boasts a solid client base with more than 500,000 retail customers and over 900 institutional partners.
The exchange has also secured $55 million in equity funding from prominent investors like Coinbase (NASDAQ:COIN) Ventures and Pantera Capital. Operating under VALR DAM Proprietary Limited, it is authorized by Prime Asset Managers in South Africa and is looking forward to expanding its services through mobile app support.
CEO Farzam Ehsani has highlighted positive institutional feedback, positioning VALR as a strong contender on the global exchange stage.
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