VALR Sees Surge in Futures Trading Volume in May Amid Grand Slam Trading Competition
06/03/2024 15:44
Johannesburg, South Africa, June 3rd, 2024, Chainwire
VALR, the Pantera-backed crypto exchange, has announced a significant milestone, with its futures trading volume more than doubling in May compared to its previous record in March. The exchange reported over $50 million in trade volume across its perpetual futures markets for the month of May.
This substantial increase in trading volume coincides with the launch of the VALR Grand Slam, a pioneering 12-month trading competition designed to reward high-volume traders. Featuring one of the largest prize pools of its kind in crypto’s history, the competition offers up to $60 million USDT in rewards. The latest round of the Grand Slam competition only just began for June, and participants can track the leaderboard at valr.com/grand-slam.
VALR’s futures product set, launched in November 2023, initially offered just three trading pairs, including the world’s first Rand-settled crypto futures pairs. However, the exchange has recently expanded its offerings to over 17 pairs with more listings in the pipeline.
Looking ahead, VALR anticipates continued accelerated growth as it engages with some of the world’s top traders and attracts a growing number of users worldwide. To support this growth and welcome new users, VALR is running a special promotion throughout June. All newly joined users in the month of June have the opportunity to unlock a Bitcoin mystery gift on VALR.
VALR has also recently been granted new crypto asset service provider (CASP) licenses from the Financial Sector Conduct Authority (FSCA) in South Africa, becoming one of the first crypto companies in the country to receive both Category I and II CASP licenses. This regulatory milestone reflects VALR’s unwavering dedication to compliance, security, and providing a trustworthy platform for the crypto community.
About VALR
Founded in 2018, VALR is a global cryptocurrency exchange serving over 1,000 corporate and institutional clients and more than half a million users worldwide. Headquartered in Johannesburg, VALR is licensed by the FSCA in South Africa and approved to offer services in Europe. The company has secured $55 million in equity funding from prominent investors, including Coinbase Ventures, Pantera Capital, and Avon Ventures, affiliated with Fidelity Investments’ parent company.
VALR (Pty) Ltd is a licensed financial services provider (FSP #53308). Futures trading is provided by VALR DAM Pty Ltd as a Juristic Representative of CAEP Asset Managers Pty Ltd (FSP number: 33933) an authorized financial services provider.
For more information, please visit valr.com
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