Listing Circle's EURO Coin (EURC), a stablecoin based on the euro, has allowed VALR, the cryptocurrency exchange supported by Pantera Capital, to offer a much wider range of products. With the ability to trade EURC against USDC, Bitcoin (BTC) and the South African Rand (ZAR), this launch represents a major addition to VALR's services.
Along with allowing wire transfers for Euro deposits, VAR is also introducing three new trading pairs: EURC/USDC, EURC/BTC and EURC/ZAR. With SEPA and SWIFT transfers, users can now deposit euros straight into their accounts. When converting euros to euros through direct purchase on the platform or for larger transactions via their OTC Trading Desk, VALR's partnership with Circle guarantees a smooth and efficient workflow.
The importance of the new features was emphasized by VALR's CEO and cofounder Farzam Ehsani, who noted that the company's goal of improving accessibility in cryptocurrency services is closely related to the addition of EURC and the facilitation of Euro deposits. He emphasized that the partnership with Circle is intended to offer a safe and intuitive experience that meets the various demands of VALR's customer base.
Established in 2018 with its main office located in Johannesburg, VALR has expanded to become a worldwide cryptocurrency exchange that caters to nearly 700,000 traders, as well as over 1,000 corporate customers. The Financial Sector Conduct Authority (FSCA) in South Africa has granted the exchange a license to operate, and Dubai's Virtual Asset Regulatory Authority (VARA) has granted preliminary approval. Large investors, including Pantera Capital, Coinbase Ventures and Avon Ventures have contributed $55 million in equity funding to VALR.
Alex Dovbnya
