Farzam Ehsani, the outgoing blockchain project lead at Rand Merchant Bank, opened up about his new crypto venture VALR. He has partnered with Bittrex, a major international cryptocurrency exchange, to launch a South African-based digital asset trading platform. Bittrex has also invested in the company in addition to being its key platform partner.
Another notable investor is Michael Jordaan, the previous FNB CEO, and venture capitalist. Jordaan is a renowned investor in several other telecommunications and fintech companies that include Bank Zero and Rain. VALR is currently opening registrations for a limited number of individuals for its access launch that will happen soon.
Ehsani said that VALR already has an operational trading functionality although it will get enabled to the users gradually and wisely. The gradual introduction is meant to guarantee that this platform offers seamless scalability and lives up to expectations. He added that all customers who sign up will get a place on a waiting list.
The early registrants will also get a chance to access the limited-access launch through participation in the company’s referral program. The program will eventually reward them with significant discounts and the opportunity to earn around R1,500 per every successful referral.
Initially, VALR will have the buy/sell feature that will let clients trade between Ethereum -7.58%, Bitcoin -4.54%, and at least 50 other cryptocurrencies.
Machine Learning and Access to All Cryptos
The VALR platform will use artificial intelligence and machine learning to simplify its identity authentication procedures enabling new customers to enjoy full verification within minutes. The company will also launch rand-to-crypto trading together with more advanced trading options between various digital assets.
The partnership with Bittrex enables VALR to gain access to all cryptos and digital tokens listed on the Bittrex and Bittrex International platforms. Thus, VALR will offer its customers one of the biggest selections of digital assets worldwide. Customers will access leading security practices, international liquidity, and enjoy globally competitive prices.
VALR is dedicated to advance the crypto industry extensively in South Africa and beyond. Bill Shihara, the Bittrex CEO, reiterated that they are also committed to advancing the budding blockchain technology worldwide.
He also believes that the partnership with VALR will enable Bittrex drive adoption of this technology in new markets within the African continent.
Bittrex also confirmed that they are committed to explore new partnerships like in the case of VALR to support the blockchain sector and incubate many innovative projects using the emerging technology all over the world.