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HomeLaw & PoliticsValr says “no” to new customer for crypto arbitrage service

Valr says “no” to new customer for crypto arbitrage service

Valr, a South African cryptocurrency exchange, has announced that it would no longer accept new customers for its crypto arbitrage service. This is done in order to meet the norms of its banking partner.

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.

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.

Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.


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