VALR and Visa Announce Strategic Partnership for Digital Payment Solutions

South Africa’s largest crypto exchange by trading volume, VALR, and the world’s largest card network, Visa, have teamed up for a strategic partnership. The collaboration aims to issue Visa cards and deliver other digital payment solutions.

Established in 2018, VALR is a digital asset platform that offers its customers the ability to buy, sell, store, and transfer Bitcoin and 60 other cryptocurrencies. The platform boasts the widest selection of any platform in Africa, ensuring seamless and secure transactions.

In March 2022, the company raised a 50 million US dollars Series B funding round. It has recently received approval to offer crypto services in Europe and is currently seeking licenses in Dubai, Mauritius, and South Africa.

Bringing Innovative Products to Customers

Farzam Ehsani, the co-founder and CEO of VALR, expressed his enthusiasm about the partnership with Visa. According to Ehsani, the partnership with Visa was a natural course of action as the company aims to bring more innovative products and services to its customers. He emphasized the global reach and extensive experience of Visa in the payment industry.

This strategic partnership follows Visa’s other collaborations with leading global crypto asset service providers like Coinbase, Crypto.com, and Circle.

Empowering Global Payments

Lineshree Moodley, the general manager at Visa South Africa, shared Visa’s excitement about collaborating with VALR. The partnership aims to issue Visa credentials to VALR customers and work on innovative payment and card products. Moodley highlighted the vast use cases and the potential to empower VALR customers to utilize the Visa network for global payments. The collaboration with VALR aims to provide customers with a unique value proposition.