VALR Obtains Regulatory Approval from FSCA as Prominent Cryptocurrency Service Provider in South Africa

This regulatory accreditation positions VALR as a leading entity in cryptocurrency services regulation within the region.

In June 2023, the FSCA instigated an application framework for Crypto Asset Service Provider (CASP) licensing, giving existing crypto service entities a six-month period to align with the financial regulatory standards of South Africa. The CASP regulatory structure encompasses a variety of services such as cryptocurrency exchanges, wallet and custody services, and additional financial offerings related to digital assets. The intent is to foster a trustworthy, investor-protective environment, promoting responsible expansion within the cryptocurrency market in the nation.

Since its inception in 2018, VALR has risen to become the preeminent cryptocurrency exchange in both South Africa and the African continent by transaction volume. The platform has attracted over 1,000 corporate and institutional clients, facilitating trade for more than half a million global users. VALR provides a wide array of digital asset trading services and operates with one of the industry’s most advanced Application Programming Interfaces (APIs), suited for both algorithmic trading and high-frequency trading practices.

Co-Founder and CEO of VALR, Farzam Ehsani, relayed his excitement regarding the new licenses: “Securing the CASP license from the FSCA represents an extraordinary landmark for VALR. Over the past six years, in partnership with South African regulatory bodies, we have jointly forged a regulatory ecosystem that encourages innovation while safeguarding the public interest. Our license is a testament to our steadfast commitment to adherence, security, and in offering a trusted platform for the cryptocurrency community. We welcome this pivotal regulatory advance for South Africa and commend the authorities for executing this progressive step for the country.”

About VALR

As a dominant international crypto exchange, VALR provides a high-caliber marketplace for cryptocurrency trades. With its headquarters stationed in Johannesburg, South Africa, VALR extends services to more than 1,000 companies and institutions, as well as over half a million traders globally. The exchange has garnered $55 million in investment funding from leading investors including Pantera Capital, Coinbase Ventures, and Avon Ventures, linked to Fidelity Investments’ parent organization. For further details, click here.