VALR, South Africa’s largest bitcoin exchange by trading volume, announced that it has raised R57 million ($3.4 million) to advance the adoption of cryptocurrencies. The series A equity round of funding was led by 100x Ventures, the investment arm of 100x Group who are behind cryptocurrency derivatives trading platform BitMEX, with participation from SA-based 4Di Capital and continued support from former FNB CEO Michael Jordaan and US-based Bittrex.

VALR.com, founded in 2018 to bridg...