VALR, a prominent cryptocurrency exchange based in South Africa, has recently formed a strategic alliance with global payments giant Visa, marking a significant development in the fintech landscape. This collaboration aims to introduce various digital payment solutions and explore the issuance of physical Visa cards in South Africa.
This partnership comes at a crucial juncture for VALR, headquartered in South Africa, following its approval to provide cryptocurrency services in Europe. The exchange is also in the process of acquiring licenses in key regions such as Dubai, Mauritius, and South Africa. VALR prides itself on being the largest cryptocurrency exchange operating in South Africa, boasting the highest trading volume on the continent. The platform offers innovative services, including VALR Pay, blockchain staking, spot margin trading, and is gearing up to launch a cutting-edge perpetual future product.
Visa, a global leader in digital payments, has embarked on a crypto consulting service and investments in cryptocurrency platforms as part of its broader initiative to drive global digital currency adoption. Lineshree Moodley, General Manager for Visa South Africa, expressed enthusiasm about collaborating with VALR. The partnership aims to issue Visa credentials to VALR customers, enabling them to leverage the Visa network for seamless global payments. Moodley highlighted the vast array of potential use cases and the collaborative effort to offer VALR customers a distinctive value proposition.
While the timeline for the physical Visa cards remains uncertain, this collaboration significantly enhances VALR’s credibility and legitimacy. In an industry where cryptocurrency trading is often viewed as volatile, the association with Visa lends VALR an added layer of trustworthiness. Farzam Ehsani, co-founder, and CEO of VALR, emphasized that partnering with Visa was a natural progression for VALR as they strive to introduce innovative products and services to their customer base. Ehsani expressed excitement about working closely with Visa to deliver cutting-edge technology and services to their global audience, underscoring the mutual enthusiasm driving this collaboration.