- The partnership between VARL and Visa is strategic for both entities to ensure sustainable future growth prospects amid the mainstream adoption of digital assets through regulated channels.
- VALR raised over $50 million to facilitate its market growth and recently received initial regulatory approval from Dubai’s Virtual Assets Regulatory Authority (VARA) with more expected from different jurisdictions.
VALR, an established crypto platform that hails from South Africa to the world, has announced a strategic partnership with Visa Inc., a global leader in card networks, in a bid to issue crypto customers with Visa cards. According to the announcement, the partnership between Visa and VARL will help deliver innovative digital payment solutions to more users across Africa and the rest of the global markets. Moreover, VARL crypto exchange is on a mission to expand its services to more places across the world through regulated means.
“Visa is a household name in payments, with vast experience and global reach. 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,” Farzam Ehsani, VALR’s Co-founder and CEO, noted.
VARL and the Market Outlook
The VARL crypto exchange has grown to a respectable firm with deep liquidity over the years as more digital coins got listed against different currencies. The partnership with Visa is a natural way for the crypto exchange to attract more users who are used to the traditional means of financial systems. Moreover, traditional financial institutions have been forced to offer crypto-related services in the past few years in a bid to remain competitive amid the notable rise of Web3 services. Already, Visa has partnered with other crypto powerhouses including Crypto.com, Coinbase, and Circle (USDC), among many others.
“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 utilize 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,” Lineshree Moodley, General Manager of Visa South Africa, noted.
The VARL crypto firm offers different services including digital asset staking, API subscription services, auto-buy feature, and simple buy and sell options. Available on both iOS and Android, VARL has managed to make significant entrance to different markets due to notable support from different investors like Pantera, Cadenza, Avon Ventures, Distributed Global, Coinbase, CMT Digital, Bittrex, and Montegray Capital, among many others.
Notably, VARL crypto exchange has committed to providing quality crypto services to the African market first, as the continent is among the worst hit by the most unbanked investors. Earlier this year, VARL launched in Zambia, where it allowed investors to deposit funds through banks and mobile money. Interestingly, VARL recorded about $20 million in crypto traded from the Zambian investors during the first day.
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