South African crypto exchange VALR picks Poland for expansion in Europe

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As a researcher with a background in fintech and cryptocurrency, I’m excited to see VALR expanding its services beyond Africa and entering new markets. The decision to offer crypto services in Poland is a strategic move for the exchange, as it aims to increase its global reach and become a major player in the industry.

As a crypto investor excited about the growing landscape of digital assets, I’m thrilled to share that VALR, the cryptocurrency exchange backed by Pantera Capital, is expanding its reach and will now provide its services in Poland. This is an important step in VALR’s global expansion strategy, opening up new opportunities for Polish investors to participate in the crypto market.

VALR, a South African cryptocurrency exchange, has selected Poland as its initial destination for global expansion, marking its first steps beyond the African continent.

In an interview with Reuters, Valr CEO Farzam Ehsani expressed the intent of expanding Valr’s client base beyond South Africa, as approximately 75% of its present customers hail from Africa. He mentioned that Valr has recently been given the green light to provide crypto services in Poland following initial approval from Dubai’s crypto regulatory body VARA. Moreover, the exchange is actively pursuing a license in Mauritius.

As a crypto investor, I aim to offer top-notch products and services to an expanding global market. My goal isn’t just to be the biggest in Africa; I yearn for greater impact and recognition on the world stage.

Farzam Ehsani

VALR, which provides services throughout Africa, has chosen not to enter the Nigerian market at this time. This decision follows recent regulatory actions by Nigerian authorities against crypto exchanges, who are accused of helping to fuel an unofficial forex market.

I was established in 2018. By 2022, I had achieved a valuation of $240 million after a successful fundraising campaign. This round was spearheaded by Pantera Capital, with further contributions from esteemed investors such as Alameda Research, Cadenza, CMT Digital, Coinbase Ventures, Distributed Global, GSR, Third Prime, and Avon Ventures.

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2024-05-01 13:17