Rand Merchant Bank, a South African diversified financial services firm has stepped into a new venture named VALR. VALR is designed to be a crypto trading platform. Interestingly, Bittrex a major crypto exchange platform has partnered with VALR. The announcement of this partnership was made by Farzam Ehsani the outgoing blockchain project lead at Rand Merchant Bank.
In collaboration with Bittrex VALR intends to launch a South African-based digital asset trading platform. With that, Bittrex has invested in the venture in addition to being its key platform partner.
Ehsani gave details about the venture, stating, “VALR already has trading functionality, but this will be enabled for our customers slowly and prudently to ensure our platform scales smoothly and lives up to expectations.” he further added, “As customers sign up, they will be placed on a waiting list and will have the opportunity to get earlier access to the limited-access launch by participating in our referral program, which will ultimately reward them with discounts and the ability to earn up to R1,500 per referral.”
The soon to launch crypto trading platform VALR has another significant investor named Michael Jordaan. He is EX- FNB CEO, and venture capitalist. Jordaan is a renowned investor in many other telecommunications and fintech firms.
Notably, VALR is enabling registrations for a limited number of individuals for its access launch. Initially, VALR will feature the buy/sell function that will let clients trade between Ethereum -6.76%, Bitcoin -1.63%, plus at least 50 other cryptocurrencies.
The new trading will deploy artificial intelligence and machine learning to make the convenient process of identity authentication. It is also planning to launch rand-to-crypto trading along with more enhanced trading options between various digital assets.
The benefit of collaboration with an established crypto exchange like Bittrex is that it will enable VALR to achieve access to all cryptos and digital tokens listed on the Bittrex and Bittrex International platforms.
Additionally, Bill Shihara, CEO at Bittrex affirmed that they are committed to advancing blockchain technology worldwide. Shihara stated, “Our partnership with VALR gives us the opportunity to help drive adoption of this technology in new markets.”