Monday, March 4, 2024
Startups in Africa

Valr is Bridging the Financial Gap in South Africa Through Cryptocurrency

Valr is a South African fintech company founded by Farzam Ehsania and Badi Sudhakaran in 2018. It is a fast-growing cryptocurrency exchange company, thanks to its low fees, lucrative referral rewards programme and the wide selection of cryptocurrencies it offers.

It basically bridges the gap between traditional financial system and the new world of cryptocurrencies.

Valr pays its customers to trade with maker fees lower than zero and earn lifetime rewards when they refer their friends and also allows customers to buy bitcoin and Ethereum with rand by depositing rand via EFT from any bank with the opportunity to withdraw rand to any South African bank account.

The company trades in South Africa’s largest selection of cryptocurrencies, they trade over 50 cryptocurrencies including cryptocurrencies including Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Monero (XMR) and many more.

They allow customers to get fully verified under 5 minutes through the use of AI and machine learning technology to validate the user’s identity and confirm the set up within a few minutes.

In the words of Jordaan “The Valr team has the potential to change the cryptocurrency landscape in South Africa and globally”

Valr’s co-founder and CEO, Farzam Ehsani said that 1,500 users, predominantly South Africans signed up on the exchange’s waiting list and started activating accounts in a closed beta leading up to the launch in 2018.

The startup also sealed a partnership deal with Bittrex, a premier US-based cryptocurrency trading platform which provides South African users with first-rate security and a highly-liquid trading environment

The partnership is in a bid to offer the new exchange global liquidity and competitive prices for crypto-to-crypto trading, while his team works on activating fiat on-ramps with south African banks by summertime.

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