VALR Secures Cayman Islands VASP Approval for Global Expansion

• This approval puts the company in a position to close the gap between African markets and international institutional capital.
• In order to complete the last set of compliance requirements needed for a complete license, VALR is now working closely with CIMA.

The Cayman Islands Monetary Authority (CIMA) has granted VALR, Africa’s leading provider of digital asset infrastructure, provisional approval to function as a Virtual Asset Service Provider (VASP).

This achievement gives VALR provisional authority to provide a wide range of services, such as:

• Virtual Asset Trading & Exchange: Crypto-to-crypto and fiat-to-crypto.
• Custody Services: Secure storage for digital assets.
• Transfer Services: Seamless international transfer of virtual assets.

A key component of VALR’s worldwide expansion plan, this approval puts the company in a position to close the gap between African markets and international institutional capital.

Building a Foundation for Global Compliance

VALR’s extensive regulatory portfolio is strengthened by the CIMA provisional license. Innovative financial products and a smooth payments infrastructure are made possible by the company’s existing Category I and II licenses from South Africa’s Financial Sector Conduct Authority (FSCA), as well as ODP and TPPP licenses. Additionally, VALR has a registered credit provider license with the National Credit Regulator of South Africa.

Path to Full Licensure

In order to complete the last set of compliance requirements needed for a complete license, VALR is now working closely with CIMA. This action is in line with VALR’s goal of offering top-notch infrastructure to its 1.8 million customers and more than 2,000 institutional clients globally.

Founded in 2018, with its headquarters located in Johannesburg, and backed by prominent investors such as Pantera Capital, Coinbase Ventures, and Fidelity’s F-Prime Capital, VALR is a global cryptocurrency exchange and the top provider of digital asset infrastructure in Africa. It offers a wide range of products, such as Spot Trading, Spot Margin, Perpetual Futures, Staking, Lending, Borrowing, OTC services, VALR Invest, Crypto Bundles, and VALR Pay. Over 1.8 million registered users and 2,000 corporate and institutional customers worldwide are served by VALR, which is licensed by the FSCA in South Africa and has regulatory clearance in Europe. The exchange is committed to promoting a fair financial future that preserves human dignity and humanity as a whole. Go to valr.com for further details.