Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She does not own any crypto.
VALR received a $240 million valuation in 2022 following a fundraiser led by Pantera Capital., is among the first batch of crypto firms to obtain approvals from South Africa's Financial Sector Conduct Authority . Last week, exchange platform Luno and crypto social investment platform Zignaly also announced they had received FSCA licenses.VALR, headquartered in Johannesburg, said that it has been granted Category I and Category II licenses by the FSCA as a crypto asset service provider .
"Obtaining the CASP license from the FSCA is a monumental achievement for VALR," Farzam Ehsani, the co-founder and CEO of VALR said in a press statement."We welcome this regulatory milestone for South Africa and applaud the regulators for taking this important step for the nation."in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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