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VALR Predicts Surge in Futures Trading

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Johannesburg, South Africa, June 3, 2024, Chainwire

Pantera-backed crypto exchange VALR announced a significant milestone as futures trading volume more than doubled from its all-time high set in March. The exchange reported that trading volume across its perpetual futures market exceeded $50 million in May.

This massive increase in trading volume coincided with the launch of the VALR Grand Slam, a pioneering 12-month-long trading competition designed to reward high-volume traders. The competition boasts one of the largest prize pools in crypto history, offering up to $60 million in USDT rewards. The latest round of the Grand Slam competition just began in June, and participants can be tracked on the leaderboard. Slam.

Launched in November 2023, VALR’s futures product suite initially offered just three trading pairs, including the world’s first rand-settled cryptocurrency futures pair, but the exchange has recently expanded its offering to over 17 pairs, with more planned to be listed.

Going forward, VALR expects its growth to continue to accelerate as it engages with the world’s top traders and attracts more and more users around the world. To support this growth and welcome new users, VALR will be running a special promotion throughout the month of June. All new users who join in June will have the chance to win a mystery gift of Bitcoin on VALR.

VALR also recently received a new Crypto Asset Service Provider (CASP) license from South Africa’s Financial Sector Conduct Authority (FSCA), making it one of the first crypto asset companies to receive both Category I and II CASP licenses in the country. This regulatory milestone reflects VALR’s unwavering commitment to compliance, security and providing a trusted platform for the crypto asset community.

About VALR

Founded in 2018, VALR is a global cryptocurrency exchange serving over 1,000 corporate and institutional clients and over 500,000 users worldwide. Headquartered in Johannesburg, VALR is licensed by the FSCA in South Africa and approved to provide 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 the parent company of Fidelity Investments.

VALR (Pty) Ltd is an authorised financial services provider (FSP #53308). Futures trading is provided by VALR DAM Pty Ltd as a legal representative of CAEP Asset Managers Pty Ltd (FSP number: 33933), an authorised financial services provider.

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