Luno, the crypto-exchange backed by Naspers, did not see the bear market of 2018 as the disaster that many others did. It opened an operation in Zambia in April 2019 and plans to open offices in about 10 SADC and East African countries by the end of the year.
Luno’s platform allows individuals in various jurisdictions, South Africa, Singapore and the European Union among them, to buy and sell just two currencies — bitcoin and etherium. Undaunted by the volatility, this week crypto platform VALR, which is a play on the word valour and which allows customers to buy, sell, store and transfer cryptocurrencies, announced that it was launching rand trading to allow customers to buy and sell bitcoin directly with rand. Customers can start funding their accounts with rand on 4 June, while live trading will begin a week later.
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