South African crypto exchange VALR, the largest crypto exchange headquartered in Africa, has launched in Zambia. The exchange will enable Zambian customers to buy or sell bitcoin (BTc) and USD Coin (USDc) directly using the Zambian Kwacha, in addition to 60+ crypto assets already available on VALR.com.
VALR was launched in 2019 and offered its customers the ability to safely buy, sell and store bitcoin and 60 other crypto assets at some of the lowest fees in the world. VALR has processed over US$10 billion of trading on the platform since its launch.
CEO of VARL, Farzam Ehsani says,
“As the largest crypto exchange headquartered in Africa, VALR is excited to now be serving the people of Zambia. We’ve built a world-class product with focus on robust security, high performance and regulatory compliance, and we look forward to welcoming the Zambian retail and institutional market to VALR.”
VALR is the only exchange in Zambia to offer local currency order books and a full-service digital asset exchange and trading platform.
Traders have access to market information, as well as the ability to place limited orders and access the platform through VALR’s mobile app, web app, and API. The VALR app is available on Google Play Store, the App Store, as well as the Huawei AppGallery, making it easy for anyone to get started in crypto.
VARL’s Head of Business Development, Blake Player says,
“We have a world-class team that is supporting. Our Zambian customers and are really excited to offer the most competitive fees and greatest choice of digital assets from an exchange with a presence in Zambia. VALR will be able to provide the best price for a Kwacha swap to crypto by making deep liquidity available directly in Zambia.”
Player adds, “VALR is committed to enabling the blockchain ecosystem in Africa, and working with other businesses to expand access to digital assets is an important part of the brand’s ambitious growth strategy. We welcome startups, mobile wallets and other fintechs to build on VALR and use our powerful APl to create exciting products for their customers.
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African Crypto Exchange, VALR Raises $5OM in Series B Led by Pantera Capital
Earlier this year in February, VALR, a cryptocurrency exchange based in South Africa, raised $50 million in what the company said was the largest funding round ever for an African crypto company.
The funding valued VALR at $240 million, more than 10 times its valuation in July 2020 when it raised $3.4 million in its Series A. The exchange’s Series B equity funding round was led by Pantera Capital with participation from Alameda Research, Coinbase Ventures, Cadenza, CMT Digital, Distributed Global, GSR, Third Prime and Avon Ventures, a venture capital fund affiliated with the parent company of Fidelity Investments.
VALR, which launched in 2019, now had over 250,000 retail customers as of the funding in February, most of whom were located in South Africa, as well as 500 institutional clients. Its clients can trade and store bitcoin (BTC), as well as 60 other cryptocurrencies.
VARL said that the new funding would be used to expand into more countries in Africa, as well as into other emerging markets such as India. VALR also said it would also serve to bring more products and services to its existing customers and to enable the company to hire more people.
VARL’s CEO and co-founder said in a statement,
“There is no longer any doubt about how crypto assets are affecting the world’s financial system. We already help VAL”Wes customers enter this new world of crypto from the traditional financial system using their (U.S. dollars) or South Africanrand)and I’m very excite, that this round of funding will allow us to serve so many more across Africa and the world.”
VALR said it planned to bring on more institutions from the traditional financial system to help it with the infrastructure needed to enter the crypto asset market. Pantera Capital Partner Paul Veradittakit said in a statement,
“We believe that Africa’s future is bright for the adoption of cryptocurrencies for both asset diversification and payments.”
One of the leading investors in VARL’s funding was the now-defunct crypto exchange FTX. Commenting on Twitter on whether FTX’s issues will affect VARL’s operations in any way, Ehsani stated,
“If you own Apple shares, and then die, it doesn’t affect Apple.” The same story (goes) for VARL (‘s relationship with FTX.’’
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About VALR, A Leading Digital Asset Trading Platform
VALR.com is a leading digital asset trading platform where users can buy, sell, store, and transfer one of the widest selections of crypto assets. It serves retail and institutional customers worldwide.
In February 2022, VALR raised a US$50 million Series B round, which is being used to offer new products, enter new markets, and grow a team of passionate people aimed at fulfilling VALR’s vision to build a financial system that recognizes the oneness of humanity.