VALR, one of South Africa’s largest crypto exchanges, has announced the launch of VALR Pay. VALR Pay is a fast, free, and easy way to send ZAR payments to any mobile number or email address.
VALR was founded in 2018, and went on to launch Bitcoin-Rand trading in June 2019. The exchange has now processed over R60 billion in crypto trading.
Over the past two years, the exchange has seen tremendous growth. VALR now has over 150,000 accounts, and some of the lowest trading fees world-wide. The exchange boasts the largest selection of cryptocurrencies in South Africa, with more than 55 coins to choose from.
VALR Pay is here!
Send ZAR for FREE to anyone, anywhere on their mobile number, email address or VALR Pay ID.
Earn R20 every time you pay someone not yet on VALR.
R1 million up for grabs!
— VALR (@VALRdotcom) June 21, 2021
“The cost and friction of payments in South Africa is too high,” says Farzam Ehsani, VALR Co-Founder and CEO.
“So we decided to build VALR Pay. It’s free, fast and easy. Why bother with banking details and branch codes? Just open up your VALR app, type in a ZAR amount, select a contact from your address book and you’re done!”
By using VALR Pay, customers can send ZAR to each other at no cost. VALR customers can send ZAR to any mobile number or email address, even if the recipient doesn’t have an account with VALR. The recipient will then receive an email/SMS with an invitation to sign up to VALR to claim their funds.
VALR has raised R79-million in funding since its inception, attracting high-profile investors such as former FNB CEO, Michael Jordaan, and 4Di Capital in South Africa, as well as Bittrex and HDR, from the international investor community.