Local crypto-currency exchange VALR and Visa have announced a strategic partnership for the issuance of Visa cards and delivery of other digital payment solutions.
Visa and VALR will collaborate on payment solutions that bring together the crypto experience of VALR and the payments capabilities of Visa.
VALR recently obtained approval to offer crypto services in Europe and is obtaining licences in Dubai, Mauritius and South Africa.
The VALR-Visa partnership follows other Visa partnerships with global crypto asset service providers such as Coinbase, Crypto.com and Circle.
“Visa is a household name in payments, with experience and global reach,” says Farzam Ehsani, VALR co-founder and CEO.
“A partnership with Visa was a natural step for VALR, as we bring more products and services to our customer base. We are very excited to work with Visa to continue to bring the very best technology and services to our global audience.”
“Visa is excited to work with VALR to issue Visa credentials to VALR customers,” says Lineshree Moodley, GM of Visa South Africa.
“With this partnership, we will work on innovative payment and card products that empower VALR customers to utilise the Visa network to make and receive payments globally. The use cases are vast and we’re looking forward to the collaboration with VALR to provide customers with a unique value proposition.”
VALR, established in 2018, is a crypto exchange headquartered in South Africa that serves customers across the world.
According to the exchange, it has processed over $10 billion in trading volume and has raised $55 million in equity funding since launch.
It offers customers the ability to trade Bitcoin and a range of other crypto, and now serves half a million retail customers and over 900 corporate and institutional clients globally.