As an analyst with a background in cryptocurrency and finance, I’m excited to see VALR’s ambitious expansion plans. Having closely followed the African crypto market, I can attest to the growing demand for regulated and reliable exchanges like VALR. The company’s recent achievements in South Africa and now Poland are commendable steps towards becoming a global player.
As a crypto investor, I’m excited to share that Valr, the leading cryptocurrency exchange in South Africa, has obtained a license to operate in Poland. With this expansion, Valr is aiming for a broader global presence after securing regulatory approval in our home country. According to recent reports from Reuters, the company intends to compete with the top crypto exchanges in the international market.
VALR’s growth strategy involves entering regulated markets in Africa, Europe, and other regions. Obtaining a license in Poland is a step toward bringing in more users as part of this expansion.
Currently, approximately 75% of its user base is composed of South African companies, with the remaining portion derived from international markets as the business grows its offerings.
Since its establishment in 2018, VALR has provided the following services to its customer base of over 600,000 retail investors and over 1,000 institutional clients: spot trading, margin trading, perpetual futures contracts, and staking opportunities. These offerings are available not just in South Africa but also to users around the world.
VALR Sets Sights on Global Expansion
I, as an analyst, would rephrase that sentence as follows:
In Africa, Valr is considering expanding to Ghana, Kenya, and Egypt as potential new markets. However, Valr’s plans for Nigeria have been put on hold due to the country’s previous cryptocurrency regulations. This year, Nigeria reevaluated its stance on cryptocurrencies following allegations that the activities of major digital asset exchanges were negatively impacting the local currency.
The result was a prohibition of several cryptocurrency exchanges, among them Binance, by the telecommunications authorities, accompanied by the detention of two company officials.
South Africa’s Approval Spur Expansion
Recently, the Financial Sector Conduct Authority (FSCA) granted approvals for 16 more crypto company licenses, bringing the grand total to 75. This development marks the establishment of a regulatory framework that benefits all market participants, fostering growth within the cryptocurrency sector.
Following their success in gaining approval in Africa, cryptocurrency companies are now aiming to grow into major global players by forging new regional and international collaborations.
Our goal is to offer products and services to a expanding global market, aiming for a significant presence on the international stage. We’re not content with being the biggest in Africa alone.
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2024-04-30 20:20