The largest crypto exchange by Volume transactions in South Africa, VALR raised $3.45 million (~57 million rands) in series A funding and it was led by 100x Ventures with participation from FNB former CEO, investor South African company 4Di capital, Bittrex Exchange and many more companies.
The funding will help the South African Exchange to be able to expand into new markets across Soutg Africa and the African Continent, launch new products such derivatives trading, lending, strengthen the VALR tean and invest in technology and compliance services! VALR Cryptocurrency exchange was founded in 2018 and claim that sold more than $120,000.000 (13,000 BTC) with a userbase of more than 40,000 members in All South Africa.
South Africa have a great and affordable environment concerning Cryptocurrency market, the country have been leading the holding of crypto assets and the country together with Nigeria lead half of transactions of Bitcoin in all African Continent. Africa have 1.2 billion people and many of this young souls are unbaked, giving crypto a whole new traction increasing daily P2P exchanges to gather more clients to trade in cryptocurrency.
Africa adoption of Crypto assets is raising and more and more companies will join this market, VALR funding is a assurance that Africa have been granted Trust to build more presence in the market and make more people be aware about Cryptocurrency on South Africa and in the continent!
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