VALR, the main crypto trade in South Africa, receives a regulatory license as a Crypto Asset Service Supplier (CASP)

[PRESS RELEASE – Johannesburg, South Africa, April 15th, 2024]

VALR, the Pantera-backed crypto trade headquartered in Johannesburg, has introduced that it has been granted each a Class I and Class II license as a Crypto Asset Service Supplier by South Africa’s Monetary Sector Conduct Authority (FSCA) ( CASP). This milestone makes VALR one of many first crypto asset platforms to obtain regulatory approval in each classes in South Africa.

The FSCA opened CASP license purposes in June 2023, giving crypto asset suppliers six months to use for a license to adjust to South African laws. The South African regulator has established a regulatory framework for CASPs, a sector that features crypto asset exchanges, pockets suppliers, custodians and different suppliers of monetary companies associated to crypto belongings. By licensing and regulating these entities, the nation goals to advertise belief, defend traders and shoppers, and promote sustainable progress inside the crypto business.

Established in 2018, VALR is now the most important crypto asset trade by buying and selling quantity in South Africa and the African continent as an entire. The trade serves greater than 1,000 company and institutional purchasers and greater than half one million merchants worldwide. Appropriate for each skilled and retail merchants, the platform provides a variety of crypto buying and selling companies and probably the most superior Utility Programming Interfaces (APIs) within the business, utilized by algorithmic and high-frequency merchants.

Farzam Ehsani, co-founder and CEO of VALR, stated: “Acquiring the CASP license from the FSCA is a monumental achievement for VALR. Over the previous six years, now we have been actively working with South African regulators, who’ve now performed a pioneering function in regulation, permitting innovation to flourish whereas defending the general public curiosity. Our license underlines our unwavering dedication to compliance, safety and offering a trusted platform for the crypto neighborhood. We welcome this regulatory milestone for South Africa and applaud the regulators for taking this essential step for the nation.”

About VALR

VALR is a worldwide crypto trade that provides high-quality crypto buying and selling markets. Headquartered in Johannesburg, South Africa, VALR serves greater than 1,000 company and institutional purchasers and greater than half one million merchants worldwide. The trade has secured $55 million in fairness funding from famend traders equivalent to Pantera Capital, Coinbase Ventures and Avon Ventures, affiliated with Constancy Investments’ guardian firm. For extra info, go to www.valr.com