VALR Secures Double License Approval from South Africa’s FSCA
South African cryptocurrency exchange VALR has been granted two pivotal licenses by the Financial Sector Conduct Authority (FSCA), marking a significant milestone for the platform and the broader crypto ecosystem in the country. This regulatory approval enables VALR to introduce innovative financial products with enhanced security and compliance, fostering greater trust among users.
Expanding Services with Regulatory Backing
The acquisition of these licenses underscores VALR’s commitment to operating within a regulated framework. Established in 2018, VALR has rapidly grown to become Africa’s largest cryptocurrency exchange by trade volume. The platform supports the buying, selling, storing, and transfer of Bitcoin and over 60 other cryptocurrencies, boasting the widest selection available on any African crypto platform. This extensive offering has attracted a substantial user base, with over 1.4 million retail traders and more than 1,400 corporate clients utilizing VALR’s services globally. The company already held a license as a Virtual Asset Service Provider from the FSCA.
The FSCA licenses provide VALR with a strong foundation to further expand its services within South Africa, solidifying its position as a leading player in the African crypto market. This move signals a positive step towards greater regulatory clarity and maturity for the virtual asset industry in the region.
Keywords
Related Keywords: VALR, SA crypto exchange license, South Africa crypto license, FSCA approval, VALR FSCA license, crypto regulation South Africa, digital asset license South Africa, VALR regulatory approval, cryptocurrency exchange South Africa, VALR license
