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In a groundbreaking move, VALR, a leading South African cryptocurrency exchange, announced a significant partnership with Visa, a global name in the digital payments domain. The collaboration underscores the fusion of VALR's profound expertise in crypto services and Visa's robust capabilities in digital payments, marking an essential milestone in innovating financial services in South Africa.
The partnership seeks to revamp payment solutions across the cryptocurrency platform by developing strategies to efficiently integrate crypto services with Visa’s versatile payment systems. It comes at a strategic period when VALR has garnered approval to extend its cryptocurrency services across Europe and is seeking to acquire licenses in Dubai, Mauritius, and its home country, South Africa.
In the wake of the partnership, Visa and VALR will collaborate on creating a suite of payment and card solutions that address the global payment needs of VALR customers leveraging the vast network of Visa. It is an ambitious endeavour that presents a plethora of uses for digital payments and currencies, providing customers with a unique value proposition.
Visa’s head in South Africa, Lineshree Moodley, expressed enthusiasm over the partnership, highlighting the vast potential use cases that the partnership would unfold for their customers. On the other side of the table, Farzam Ehsani, co-founder and CEO of VALR, echoed the sentiment expressing that associating with a globally recognized name such as Visa was a strategic progression for VALR in its mission to introduce innovative financial products and services designed to meet customer needs.