PRESS RELEASE – Johannesburg, South Africa, April 15th, 2024

VALR Granted Category I and Category II License by FSCA

VALR, the Pantera-backed crypto exchange headquartered in Johannesburg, announced that it has been granted both a Category I and Category II license by the Financial Sector Conduct Authority (FSCA) of South Africa as a Crypto Asset Service Provider (CASP).

This milestone makes VALR one of the few crypto exchanges in South Africa to receive both licenses, solidifying its position as a key player in the rapidly growing crypto industry in the region.

VALR has been committed to providing a secure and regulated platform for users to trade a variety of cryptocurrencies. With the Category I and Category II licenses, VALR is now authorized to provide services such as the buying and selling of cryptocurrencies, as well as the custody and management of customer assets.

These licenses demonstrate VALR’s compliance with the stringent regulatory requirements set forth by the FSCA, ensuring that customers can trust the exchange with their digital assets.

VALR’s CEO, expressed his excitement about the licenses, stating that they are a testament to the hard work and dedication of the VALR team. He also emphasized the importance of regulation in the crypto industry, and how it can help to legitimize and mainstream cryptocurrencies.

With the Category I and Category II licenses, VALR is well-positioned to continue its growth and expand its services to more users in South Africa and beyond.

How Will This Affect Me?

As a user of VALR or someone interested in trading cryptocurrencies, the granting of Category I and Category II licenses to VALR is great news. It means that VALR is now fully regulated and authorized to provide a wide range of services, giving you more confidence and security when using the platform.

You can now trade cryptocurrencies, store your digital assets, and engage in other activities with the assurance that VALR complies with the regulatory standards set by the FSCA.

How Will This Affect the World?

The granting of Category I and Category II licenses to VALR is significant for the crypto industry as a whole. It showcases the increasing acceptance and recognition of cryptocurrencies as a legitimate asset class, backed by proper regulation and oversight.

It also sets a positive example for other crypto exchanges around the world, highlighting the importance of regulatory compliance and the benefits it can bring in terms of trust and credibility.

Conclusion

The Category I and Category II licenses granted to VALR by the FSCA mark a major milestone for the exchange and the crypto industry in South Africa. With these licenses, VALR can now offer a wider range of services to users while maintaining the highest standards of security and regulatory compliance. This development is not only beneficial for users of VALR, but also for the overall reputation and legitimacy of cryptocurrencies in the global financial landscape.