According to a report, Valr will depart the crypto arbitrage market on February 28 in order to meet the requirements of its banking partner. Valr is the latest South African cryptocurrency exchange to declare its intention to depart the crypto arbitrage industry in 2022.
— Bitcoin News (@BTCTN) February 4, 2022
According to the statement released by the company: “To accommodate the demands from our banking partners, we have chosen to cease our arbitrage business.” Valr’s other services will remain unaffected.
Asif Aziz, the chief technical officer of Libex believes that banks’ antagonism toward crypto arbitrage may be one of the reasons exchanges are exiting the sector.