- VALR collaborates with Visa to debut crypto-powered Visa cards, leveraging both companies’ formidable strengths.
- This alliance follows VALR’s expansion efforts in Europe, with imminent licensing in Dubai, Mauritius, and South Africa.
A Landmark Alliance for Digital Payments
South Africa’s crypto juggernaut, VALR, has sealed an alliance with global payment behemoth Visa. This union is set to redefine digital payment paradigms by interlinking VALR’s cryptocurrency acumen with Visa’s vast payment infrastructure.
VALR’s trajectory has been impressive, recently gaining a foothold in Europe and setting sights on attaining licenses in Dubai, Mauritius, and its home turf, South Africa. Visa’s decision to join hands with VALR isn’t its first foray into the crypto sphere—it previously linked up with top-tier crypto entities like Coinbase, Crypto.com, and Circle.
VALR’s Rise and Visa’s Crypto Commitment
VALR’s CEO, Farzam Ehsani, expressed his excitement about this collaboration.
“In the ever-evolving payment landscape, Visa’s global presence is unparalleled. This alliance is a pivotal move for VALR, underlining our commitment to delivering trailblazing products and services. Together with Visa, we’re poised to push the boundaries of what’s possible for our global clientele.”
Having established itself as Africa’s preeminent cryptocurrency exchange, VALR continually diversifies its offerings, including its VALR Pay service, blockchain staking, and spot margin trading. A groundbreaking perpetual futures product is also on the horizon. Conversely, Visa has been progressively integrating with the crypto universe, establishing a crypto consultancy branch and fortifying digital currency adoption through strategic investments.
Lineshree Moodley, the General Manager of Visa South Africa, voiced Visa’s aspirations for the joint venture.
“Our collaboration with VALR is poised to craft avant-garde payment and card solutions, enabling VALR’s clientele to tap into the Visa network’s global reach. The possibilities are vast, and together, we’re set to design a unique, value-driven proposition for users.”
Founded in 2018, VALR’s meteoric rise has seen it amass over $10 billion in trade volume and secure $55 million in equity funding. Today, it caters to a robust base comprising 500,000 retail enthusiasts and over 900 institutional clients worldwide. Meanwhile, Visa, with its indomitable presence, facilitates transactions for an astounding 100 million merchants globally, reflecting its commanding influence in molding the digital payments arena.
With over 3 billion card credentials issued and the prowess to process a staggering 65,000 transactions every second, Visa’s dominance remains undisputed.