- Crypto exchange platform VALR has announced a strategic partnership with Visa.
- The partnership will see the pair rollout out payment solutions both locally and across Africa, with physical cards being added to the mix.
- Headquartered in SA, VALR is reportedly the country’s largest exchange by trading volume.
There is an interesting partnership that has been announced in the fintech space, as cryptocurrency exchange platform VALR has entered a strategic engagement with global payments facilitator Visa.
The pair plan to work together on a number of upcoming digital payment solutions, but also have something physical in mind, with the issuance of Visa cards in South Africa also on the table.
The partnership comes at a pivotal time for the exchange, which is headquartered in SA, as VALR recently obtained approval to offer cryptocurrency-related services in Europe, and is in the process of obtaining licenses in Dubai, Mauritius, and South Africa.
The exchange adds that it is the largest one operating in SA. “The business processes the highest trading volume on the continent, provides innovative services such as VALR Pay, blockchain staking and spot margin trading, and will soon be launching a leading perpetual future product. Visa started a crypto consulting service and invested in crypto platforms as part of a global push for digital currency adoption,” it highlighted in a press release sent to Hypertext.
“Visa is excited to work with VALR to issue Visa credentials to VALR customers. With this partnership we will work on innovative payment and card products that empower VALR customers to utilise the Visa network to make and receive payments globally. The use cases are vast and we’re looking forward to the collaboration with VALR to provide customers with a unique value proposition,” added Lineshree Moodley, GM for Visa South Africa.
While it remains to be seen when those physical cards will become a reality, the partnership with Visa adds a significant amount of legitimacy to the operations of VALR, especially as trading in crypto has still struggled to shake the reputation of being a volatile investment.
“A partnership with Visa was a natural step for VALR as we bring more innovative products and services to our customer base. We are very excited to work with Visa to continue to bring the very best technology and services to our global audience,” concluded Farzam Ehsani, co-founder and CEO.
