The company is closing its crypto arbitrage product in order to devote its attention to international expansion and its flagship crypto trading product.
The local crypto-currency exchanges anticipate the introduction of a clear South African digital currency regulatory regime by the end of 2022.
USDC is one of the world’s fastest-growing, regulated dollar-digital stablecoins – issued by Circle.
As part of the agreement, Paxful’s customers will be able to utilise Ovex’s ‘Direct Transfer to Bank’ tool, which allows them to instantly convert their Bitcoin into fiat.
By buying USD-backed stablecoins, an investor can earn steady gains through decentralised finance services while still hedging against the falling rand, says Ovex.
On 13 July, the major banks’ shares dropped an average of 5% as a result of the country’s current unrest.
Arbitrage funds based on volatile assets are not always the best investment.
The Ovex Referral Programme is an excellent way to earn extra money with crypto-currency — whether you have any crypto in your wallet or not, says Ovex.
Key differences between traditional and crypto arbitrage include crypto working with virtual assets and markets that are more volatile, says OVEX CEO Jonathan Ovadia.
SA’s economy makes for fertile investment ground when it comes to crypto services like arbitrage – where exchange disparities can be leveraged for a profit.
The biggest driver of this latest Bitcoin growth has been the entrance of large, institutional players into the market, says Jonathan Ovadia, CEO of Ovex.
Arbitrage represents one of the emerging growth areas for crypto-currency investors.