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South Africa’s crypto trading in Rands officially goes live

Phumzile Ngcatshe

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JOHANNESBURG – The eagerly anticipated South African crypto-currency trading in Rand has finally gone Live.

VALR officials announced a few weeks ago that their platform will go live on Tuesday and indeed, they have managed to keep their promise.

The South African crypto-currency CEO and VALR’s co-founder Farzam Ehsani expressed delight last week, saying the new currency was growing steadily since their launch.

Backed by former First National Bank CEO Michael Jordaan, VALR has allowed South African users to fund their accounts in South African Rands last Monday, and the numbers suggest it is well received by the locals.

According to its official Twitter account, VALR has just hit 10 BTC in trading volume in an order book that was launched on Tuesday.

“VALR just hit 10 BTC in trading volume on our Bitcoin-Rand order book that launched at 11:11 a.m. today,” read a tweet.

“Full trading now enabled! Market orders and Simple Buy/Sell orders are now permitted. Market orders and Simple Buy/Sell orders will be matched at the best sell or buy price on the VALR order book.

“BTC/ZAR trading is now live! Sign in now to get in on the action,” said VALR.

Moreover, a Twitter user going by the name of Mlatko Mloodic was excited to use the platform for the first time and encouraged other users to join in.

“Using VALR  for the first time. So far so good, can recommend to others looking for smooth and quick bitcoin trades. Cheaper fees too!” said the user.

 

 

 

Phumzile is an experienced Journalist having launched his career in 2007. He has written for News24 Travel and a number of Football websites and publications covering the South African Premier Soccer League (PSL), African football such as the CAF African Cup of Nations and CAF Club competitions. He recently joined FX Magazine to offer more balanced and unbiased financial reporting.

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