Johannesburg, South Africa – June 3rd, 2024 – Chainwire
VALR, the crypto exchange backed by Pantera, has reached a major milestone by doubling its futures trading volume in May compared to its previous record in March. The exchange reported a trade volume of over $50 million across its perpetual futures markets for the month of May.
This significant increase in trading volume coincides with the launch of the VALR Grand Slam, a groundbreaking 12-month trading competition designed to reward high-volume traders. With one of the largest prize pools in cryptocurrency history, the competition offers up to $60 million USDT in rewards. The latest round of the Grand Slam competition has just started in June, and participants can keep track of the leaderboard at valr.com/grand-slam.
Initially, VALR’s futures product set, which was launched in November 2023, only offered three trading pairs, including the world’s first Rand-settled crypto futures pairs. However, the exchange has recently expanded its offerings to over 17 pairs, with more listings on the way.
Looking ahead, VALR expects to continue experiencing accelerated growth as it collaborates with some of the world’s leading traders and attracts a growing number of users from around the globe. To support this growth and welcome new users, VALR is running a special promotion throughout June. All new users who join in June have the chance to unlock a Bitcoin mystery gift on VALR.
VALR has also recently obtained new crypto asset service provider (CASP) licenses from the Financial Sector Conduct Authority (FSCA) in South Africa, making it one of the first crypto companies in the country to receive both Category I and II CASP licenses. This regulatory milestone showcases VALR’s unwavering commitment to compliance, security, and providing a trustworthy platform for the crypto community.
About VALR
Established in 2018, VALR is a global cryptocurrency exchange that serves over 1,000 corporate and institutional clients, as well as more than half a million users worldwide. Headquartered in Johannesburg, VALR is licensed by the FSCA in South Africa and authorized to offer services in Europe. The company has secured $55 million in equity funding from prominent investors, including Coinbase Ventures, Pantera Capital, and Avon Ventures, which is affiliated with Fidelity Investments’ parent company.
VALR (Pty) Ltd is a licensed financial services provider (FSP #53308). Futures trading is provided by VALR DAM Pty Ltd as a Juristic Representative of CAEP Asset Managers Pty Ltd (FSP number: 33933), an authorized financial services provider.
For more information, please visit valr.com.
Contact:
VALR
[email protected]