As a seasoned crypto investor with roots deeply entrenched across continents, I find the meteoric rise of VALR, Africa’s largest crypto trading platform, nothing short of exhilarating. Having navigated the volatile cryptosphere for well over a decade, I have witnessed countless ups and downs, yet, the resilience and rapid growth demonstrated by VALR is truly remarkable.
VALR, a cryptocurrency exchange backed by Pantera and currently the leading platform in Africa in terms of net trading volume, has announced that its user base doubled last year, exceeding one million users. This significant achievement comes as the exchange concludes an extensive global expansion phase, coinciding with Bitcoin’s (BTC) price reaching over $90,000.
VALR userbase adds 100% in 12 months, hits one million accounts
VALR, a well-known African cryptocurrency exchange, has recently unveiled impressive growth figures over the past year. The platform added half a million new users to its roster, more than doubling its active user base. This significant surge in numbers is a marked improvement from the initial 500,000 users who signed up since VALR’s establishment in 2018.
In my research findings, our data encompasses approximately 1,100 institutional and corporate clients globally. Notably, the number of international users has significantly increased. As we stand in Q4, 2024, a striking 25% of VALR’s customer base hails from outside South Africa.
2022 saw VALR successfully complete its Series B funding round, which amounted to a massive $50 million – the biggest crypto fundraising in Africa so far. Notable investors like Pantera Capital, Coinbase Ventures, and F-Prime, an affiliate of Fidelity, took the lead in this campaign. As a result, VALR surpassed a total funding amount of $55 million.
Initially, VALR functioned as a platform exclusively for crypto spot trading. Over time, it expanded its offerings to cater to its global users, introducing features like margin trading for spots, perpetual futures, staking, lending services, an OTC trading desk, and a superior API for high-frequency traders.
Previously reported by U.Today, the VALR exchange will begin supporting EUROC, a stablecoin pegged to the Euro, starting from August 2024.
Additionally, it facilitated deposit options using European fiat currencies. Towards the end of the second quarter in 2024, the platform hosted a significant Solana Summer Event, offering substantial SOL rewards.
From regional dominance to global expansion
Farzan Ehsani, VALR’s co-founder and CEO, is thrilled about the recent achievements of his team as they attract a fresh wave of users to the third iteration of the web (Web3).
It’s truly heartening to observe the significant strides made since 2018. Reaching over a million users, and adding half a million this year alone, speaks volumes about our team’s hard work, the faith our clients have in us, and the growing popularity of VALR. As we march forward in growth, we stay steadfast in our mission to deliver cutting-edge, top-tier services that cater not just to individual traders, but also larger financial institutions and fintechs aiming to shape the future of finance.
In 2022, VALR’s team undertook a worldwide journey, connecting with collaborators and local communities spanning 12 nations in Asia, Africa, Europe, and the Middle East, thereby boosting the recognition of their brand on a global scale.
At the forefront as a Platinum Sponsor of the globe’s biggest cryptocurrency gathering, Token2049, VALR presents itself as an exchange grounded in values, emphasizing exceptional customer experiences alongside top-tier technology and service standards.
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2024-11-14 18:04