VALR, a leading cryptocurrency exchange backed by Pantera, has hit a significant milestone as its futures trading volume in May more than doubled compared to its previous record set in March. During May, the exchange recorded a trading volume exceeding $50 million across its perpetual futures markets.

This surge in trading activity coincides with the introduction of the VALR Grand Slam, a unique 12-month trading competition targeted at rewarding high-volume traders. Boasting one of the most substantial prize pools in the history of crypto, the competition offers rewards totaling up to $60 million USDT. The latest phase of the Grand Slam competition kicked off in June, allowing participants to monitor their progress on the leaderboard.

Initially offering only three trading pairs when it launched its futures product set in November 2023, VALR has since expanded its offerings to encompass over 17 pairs with plans for additional listings in the pipeline.

Looking towards the future, VALR foresees sustained rapid growth as it collaborates with notable traders globally and attracts a burgeoning user base from around the world. To facilitate this growth and welcome new users, VALR is conducting a special promotion throughout June, where new users who join during this period have the chance to receive a Bitcoin mystery gift.

Recently, VALR achieved a significant regulatory milestone by obtaining new crypto asset service provider (CASP) licenses from the Financial Sector Conduct Authority (FSCA) in South Africa, making it one of the pioneering crypto companies in the country to secure both Category I and II CASP licenses. This regulatory achievement underlines VALR's firm commitment to compliance, security, and providing a reliable platform for the crypto community.

About VALR

Established in 2018, VALR operates as a global cryptocurrency exchange catering to more than 1,000 corporate and institutional clients along with over half a million users worldwide. Headquartered in Johannesburg, VALR holds licensing from the FSCA in South Africa and is authorized to deliver services in Europe. The company has secured $55 million in equity funding from notable investors such as Coinbase Ventures, Pantera Capital, and Avon Ventures, affiliated with Fidelity Investments' parent company.

VALR (Pty) Ltd operates as a licensed financial services provider (FSP #53308), while futures trading is facilitated 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 details, please visit the VALR website at valr.com.