VALR, South Africa’s largest crypto exchange by volume, has launched an arbitrage desk to help its clients take advantage of the differences in local and international Bitcoin prices to amplify their funds.
The service, dubbed VALR Arbitrage, is still in pilot stage but is open to South Africans or residents looking to get in.
VALR Arbitrage helps customers “buy low and sell high” simultaneously in local and international cryptocurrency markets to lock in a profit.
Crypto arbitrage in South Africa has had impressive returns. Eligible individuals that have SARS regulatory approval, with R1,000,000 (about $65, 000) for example, which is the annual SA exchange control allowance, have historically earned up to R50, 000 (about $3,500).