Crypto’s path to adoption has grown exponentially over the past year, with institutional interest in crypto-related services fast becoming the norm rather than the exception.
VALR, a South-African based crypto exchange, has positioned itself as an industry leader through a robust platform built to cater for this influx with clinical attention to security and exceptional service.
“VALR’s mission of serving humanity isn’t by any means limited to retail investors.”
“We are also here to provide safe and secure custodial and crypto services to corporate entities,” explains VALR CEO, Farzam Ehsani.
Why should corporations consider VALR?
In the nascent crypto industry, safety considerations remain front and centre for many investors.
To this end, VALR has prioritized bolstering the platform’s security since its inception.
VALR has partnered with Bittrex, a leading global blockchain platform that was started by three cybersecurity engineers, to keep your assets safe.
The exchange uses both cold wallets and hot wallets to store clients’ cryptocurrencies.
Cold storage means the private keys that control the cryptocurrency are held offline in “air-gap” isolation from any online system.
Furthermore, VALR’s cold storage operates a multi-signature scheme where several private keys need to be used to sign any transaction enabling the movement of funds.
These keys are held in institutional vaults that are geographically dispersed, access-controlled and video-monitored.
Multiple signatories are needed to transfer funds after physically entering secure off-site premises and satisfying institutional grade security clearances.
Hot wallets are online wallets that are connected to the internet and are required to maintain operational liquidity.
VALR’s hot wallet infrastructure leverages Bittrex’s leading cybersecurity architecture.
VALR also deploys multi-signature hot wallets that use multiple private keys which are managed and secured through cloud-hosted cryptographic key management services.
“It’s critical to ensure you’re dealing with trustworthy institutions.”
“At VALR, we have taken many steps to afford customers the peace of mind that users’ funds are safe in our custody.” Ehsani elaborates.
Beyond its ample security offerings, VALR has been lauded for its highly efficient and proactive support services.
The platform has a team dedicated to serving corporate clients, providing high-touch service on demand.
VALR Pay, an instant, feeless payment platform, allows any individual to send Rands to anyone from their VALR wallet.
Upcoming merchant services will allow for VALR Pay to be fully integrated into business payment structures, meaning that users will soon be able to support their favourite NGOs, restaurants, and local businesses by simply scanning a QR code.
Businesses supporting VALR Pay will be able to avoid the 2-4% fees associated with other payment channels as VALR Pay costs nothing for both those making and receiving payments.
Newly launched subaccounts on VALR allow any user to open subaccounts via their main account, allowing for assets to be delineated and managed more easily.
For the average investor, these could be used for anything from segmenting assets by relative risk to holding funds for their children.
In the case of corporate entities, subaccounts could prove invaluable for managing clients’ individual portfolios.
As Ehsani explains, “Subaccounts are one of many products we have planned to improve accessibility and user experience.”
“Crypto can be daunting at first, and we strive to champion inclusivity at all times, whether that be for new retail entrants or corporations looking to enter the rapidly growing blockchain industry.”
Ehsani’s steadfast belief in the power of cryptocurrency to transcend boundaries and empower individuals to participate in the disruptive space is evident in VALR’s goals and offerings, making it a breath of fresh air in a financial space long dominated by exclusive access for a select few.
The rapidly growing platform’s ambitious vision and clinical execution makes it an optimal choice for businesses and individuals looking to dive into the world of crypto.