As the first cryptocurrency exchange to offer Rand-settled cryptocurrency futures and with a dual license from the South African FSCA, how does this positioning impact VALR’s growth in Africa?
South Africa is leading the continent in cryptocurrency regulation, and we hope to continue to do so as the regulatory landscape evolves. At VALR, our goal is to extend our services to as many people as possible, particularly in Africa, where there are significant opportunities for financial improvement. We look forward to expanding our reach across the continent and globally as more countries embrace the cryptocurrency economy.
With recent approvals to serve the EU and Dubai, how has VALR managed its relationships with global regulators like the FSCA and Dubai’s Virtual Asset Regulatory Authority?
VALR was founded 6.5 years ago, at a time when global regulation of cryptocurrencies was minimal. From the beginning, we did our best to uphold high ethical standards, even in the absence of formal regulation. Now that regulatory frameworks are being developed, we are well positioned to comply, as we have effectively self-regulated since our inception.
Given that a large portion of VALR’s transaction volume comes from institutional clients, how do you tailor your services to them and how has this influenced your approach to compliance and security?
In addition to our individual customers, we serve a large corporate and institutional clientele. We offer a comprehensive application programming interface (API) and place a high emphasis on security features.
For example, we offer “shared account access,” allowing clients to grant specific permissions to traders, accountants, and others within their organizations. We also strive to maintain deep and liquid markets, allowing our institutional and institutional clients to rely on us for their diverse cryptocurrency needs.
What strategic changes are planned to ensure VALR remains a leading exchange in developed and emerging markets?
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As the largest trading platform in Africa and the world’s leading rand-to-crypto trading platform, we have expanded into new territories to extend our products and services beyond South Africa and the wider continent. We are focusing on Asia and Europe, where it is essential to continue offering more services and assets.
About Farzam Ehsani
Farzam Ehsani is the CEO and Co-Founder of VALR.com, Africa’s largest global cryptocurrency exchange, serving professional and retail traders and over 700,000 traders worldwide. He was previously Head of Blockchain at Rand Merchant Bank and FirstRand Group, and was the inaugural Chairman of the South African Financial Blockchain Consortium. He previously worked at McKinsey & Company in Johannesburg, Deloitte Consulting in San Francisco, the Baha’i World Centre in Haifa, and the United Nations in Nairobi. He studied Economics at the University of California, Berkeley.
