As the first crypto exchange to offer Rand-settled crypto futures and with dual licensing from South Africa’s FSCA, how does this positioning impact VALR’s growth in Africa?
South Africa has led the continent in crypto regulation, and we hope this will continue as the regulatory landscape evolves. At VALR, our aim is to extend our services to as many people as possible, particularly across Africa, where there are significant opportunities for financial improvement. We look forward to expanding our reach within the continent and globally as more countries embrace the crypto economy.
With recent approvals to serve the EU and Dubai, how has VALR managed relationships with global regulators like the FSCA and Dubai’s Virtual Asset Regulatory Authority?
VALR was established 6.5 years ago, during a time when there was minimal global crypto regulation. From the beginning, we did our best to adhere to high ethical standards, even in the absence of formal regulations. Now that regulatory frameworks are being developed, we are well-positioned to comply, having effectively self-regulated since our inception.
Given that much of VALR’s trading volume comes from institutional clients, how do you tailor services for them, and how has this influenced your approach to compliance and security?
In addition to our retail customers, we cater to a substantial corporate and institutional client base. We provide a comprehensive Application Programming Interface (API) and place a strong emphasis on security features.
For instance, we provide “shared account access,” allowing clients to grant specific permissions to traders, accountants, and others within their organisations. We also focus on maintaining deep and liquid markets, enabling our corporate and institutional customers to rely on us for their diverse crypto needs.
What strategic shifts are planned to ensure VALR remains a leading exchange in both developed and emerging markets?
As the largest trading venue in Africa and the leading rand-crypto trading platform globally, we have expanded into new territories to extend our products and services beyond South Africa and the broader continent. We are concentrating 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, the largest crypto exchange in Africa going global, serving corporate and professional traders as well as more than 700,000 traders worldwide. He was previously the Blockchain Lead at Rand Merchant Bank and the FirstRand Group, and was the inaugural Chairperson 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.