VALR, a leading crypto exchange in South Africa, has raised $50 million in a Series B equity funding round.
VALR, a crypto exchange in South Africa, has raised $50 million in a Series B equity funding round.
Pantera Capital led the rough with participation from Alameda Research, Coinbase Ventures and Avon Ventures, among others. Those firms join existing investors including crypto exchange Bittrex and 4Di Capital. The round secures a $240 million valuation for VALR, and marks the largest crypto funding round in Africa to date, according to the exchange.
VALR launched bitcoin-rand trading in June of 2019, and since then has posted volumes making it a leading venue for rand-to-crypto transactions. To date, the exchange says it has processed over $7.5 billion in trading volume and has over 250,000 retail customers and 500 institutional clients worldwide.in July of 2020. At the time, VALR planned to expand into new markets across South Africa and launch services like derivatives trading and lending.
With this fresh funding, it will continue to expand across Africa and into other markets such as India. It also plans to onboard traditional finance institutions, like large banks, insurers and hedge funds, to assist in building out the exchange's infrastructure.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
African Crypto Exchange VALR Raises $50M in Series B Led by Pantera CapitalAfrican crypto exchange VALRdotcom has raised $50 million in a round led by PanteraCapital that values the firm at $240 million. By NelWang
Baca lebih lajut »
Florida Lottery makes history with new, $50 scratch-off gameThe Florida Lottery introduced the new 500X THE CASH Scratch-Off game on Monday.
Baca lebih lajut »
The Best Home-Decor Buys at Anthropologie — All Under $50We've hand-picked our favorite decor pieces from Anthropologie that are under $50 to give your space a subtle yet satisfying lift.
Baca lebih lajut »
Cardano Attracts $50 Million to DeFi Projects in Last 30 Days, TVL Reaches $117 MillionCardano TVL reaches $127 million in February after the release of DeFi products on the network
Baca lebih lajut »
African Crypto Exchange VALR Raises $50M in Series B Led by Pantera CapitalAfrican crypto exchange VALRdotcom has raised $50 million in a round led by PanteraCapital that values the firm at $240 million. By NelWang
Baca lebih lajut »