The local cryptocurrency exchange, VALR, and Visa have recently unveiled a strategic alliance aimed at introducing Visa cards and a host of digital payment solutions to the market. This collaboration will amalgamate VALR’s cryptocurrency expertise with Visa’s extensive payment capabilities.
VALR, in recent developments, has secured the necessary approvals to extend its cryptocurrency services into the European market and is currently in the process of acquiring licenses in Dubai, Mauritius, and South Africa. The VALR-Visa partnership follows in the footsteps of Visa’s previous partnerships with global cryptocurrency service providers, including Coinbase, Crypto.com, and Circle.
Farzam Ehsani, the CEO and co-founder of VALR, expressed his enthusiasm, stating, “Visa is a renowned name in the world of payments, with its vast experience and global reach. Partnering with Visa was the logical next step for VALR, as we aim to expand our product and service offerings for our valued customers. We are thrilled to collaborate with Visa to continue delivering the finest technology and services to our worldwide audience.”
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Lineshree Moodley, General Manager of Visa South Africa, also shared her excitement, saying, “Visa is thrilled to team up with VALR to provide Visa credentials to VALR’s customer base. This partnership will focus on pioneering payment and card products, empowering VALR customers to harness the Visa network for global payments and receipts. The potential applications are extensive, and we look forward to our collaboration with VALR in offering customers a unique value proposition.”
Founded in 2018, VALR is a cryptocurrency exchange based in South Africa that caters to customers worldwide. According to the exchange, it has successfully facilitated over $10 billion in trading volume and has secured $55 million in equity funding since its inception. VALR offers its customers the ability to trade Bitcoin, along with a diverse range of other cryptocurrencies. Currently, it serves half a million retail customers and more than 900 corporate and institutional clients on a global scale.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
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