Presented by OVEX

OVEX closes its Automated Arbitrage Service and launches a R100 Million Trading Rewards Pool for High Volume Traders

After 3 years of pioneering and establishing South Africa’s most renowned cryptocurrency arbitrage service; Africa’s hottest fintech and digital asset trading platform has decided to close its crypto arbitrage offering to focus on accelerating its international expansion through its flagship Crypto Trading product.

The crypto exchange is also doubling down on its popular Cryptocurrency Interest Accounts and exciting new fintech offerings which include debit cards, payment solutions and Stock/FX trading.

OVEX CEO, Jon Ovadia says “We’re ecstatic to bring our offering to new markets and for the exciting new products we’re launching this year” he added, “Even though we have decided to move away from the arbitrage service, it has been and continues to be an incredible opportunity for a low-risk trade.”

“We have done extensive due diligence on some local arbitrage service providers to ensure our clients have a safe and secure alternative once the product is decommissioned on the OVEX platform.”

OVEX will accept new deposits for its arbitrage service up till the 31st January 2022 and will conclude all final trades by the 14th of February 2022 (for clients with outstanding offshore investment allowances).

OVEX Arbitrage users’ funds will remain in secure custody in the OVEX wallet and can be withdrawn at any point or used in other OVEX products such as the USD stablecoin interest accounts (which yield over 9%p/a).

Alternatively, these funds can be traded for other crypto assets using the exchange’s state of the art instant Buy/Sell trading tool.

OVEX has seen immense growth in its Over The Counter and retail trading service.

The digital asset trading platform does a remarkable ZAR5.5billion in monthly volume which OVEX will deploy to bring deep liquidity to Kenya, Zambia, Nigeria, The UK and The UAE – with further ambitions to open shop in other offshore markets in 2022.

To reward clients and partners for their support, OVEX has launched a R100m trading rewards program for South Africa’s largest volume/frequency traders such as high net-worth individuals (HNWIs), asset managers and brokers.

The program will be used to reward OVEX clients trading over R10m per month with trading rebates, increased interest account yields, and other exclusive benefits.

Trade volume on OVEX today.

Be sure to consult the OVEX Automated Arbitrage Service Termination FAQ section on their portal for more information.

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OVEX closes its Automated Arbitrage Service and launches a R100 Million Trading Rewards Pool for High Volume Traders