VALR, a Johannesburg-based cryptocurrency trading platform with over 50 cryptocurrencies, announced on Wednesday that it is launching Ethereum-Rand (ETHZAR) trading to allow customers to buy and sell Ether.
The company said the Ether-Rand (ETHZAR) trading will go live on 11 July at 11:11 a.m.
In the last three weeks we have facilitated over R170 million worth of Bitcoin trades, VALR’s Co-Founder & Chief Product Officer, Badi Sudhakaran said.
“Today we are excited to announce the launch of our second ZAR trading pair: ETHZAR,” he added.
VALR is financially supported by ex-FNB CEO Michael Jordaan and US-based Bittrex. Bittrex is one of the largest cryptocurrency exchanges in the world. The company has raised R20 million after its first round of funding in July 2018.
VALR plans to launch more cryptocurrency-rand trading pairs in the near future.
VALR’s platform uses artificial intelligence and machine learning to streamline the ID verification process, allowing new customers to be verified within minutes. It also offers an advanced application programming interface (API) that allows automated trading on the platform.