South African crypto exchange VALR has entered into the collaboration with Bittrex, according to MyBroadband. Hence, given the new partnership, Bittrex is certainly want to expand its services all around the African continent.
At the time of writing, VALR isn’t available for open registration yet, though it allows registering a limited amount of users in close mode.
Bittrex is one the key cryptocurrency exchanges in the world. It was founded in 2013 by Bill Shihara and two business partners. At press time, Bittrex enters top-50 crypto exchanges by adjusted volume, according to CoinMarketCap,
Ex-Rand Merchant Bank blockchain executive Farzam Ehsani said VALR already equipped with trading functionality. Moreover, the upcoming exchange will use machine learning and AI to perform AML/KYC process.
However, Ehsani admitted initially users would be placed on a waiting list.
It’s expected VALR will list over 50 crypto assets, including bitcoin (BTC), and ethereum (ETH).
The Head of Bittrex Bill Shihara believes new partnership will help to stimulate the crypto adoption faster.
Nevertheless, South Africa is far from being a paradise for crypto. Earlier, The Zambian central bank said that cryptocurrencies aren’t legal tender. The watchdog warned people that they are trading crypto at their own risk and would have no recourse to any authority in the event of fraud.
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