VALR, a South-African crypto exchange, has launched crypto trading pairs using the Zambian Kwacha (ZMW).
The Zambian launch follows a meetup in Zambia which saw VALR introduce its exchange services to a small team of crypto enthusiasts in the country.
South African🇿🇦 Exchange, @VALRdotcom first meetup in Lusaka, Zambia🇿🇲
VALR recently raised $50 million to expand across Africa and into other emerging markets https://t.co/KQzvdiwAMs pic.twitter.com/LROhMEn0AO
— BitKE (@BitcoinKE) October 28, 2022
The following trading pairs are now available using the Zambian Kwacha:
- BTC / ZMW (Bitcoin)
- USDC / ZMW
According to VALR, all Zambian customers will now have access to the 60+ cryptocurrencies already available on the platform.
Speaking about the Zambian launch, VALR CEO, Farzam Ehsani, said:
“As the largest crypto exchange headquartered in Africa, VALR is excited to now be serving the people of Zambia,” says VALR CEO Farzam Ehsani. “We’ve built a world- class product with a focus on robust security, high performance and regulatory compliance,and we look forward to welcoming the Zambian retail and institutional market to VALR.”
In an exclusive with BitKE, VALR Head of Business Development, Blake Player said:
“VALR is committed to enabling the blockchain ecosystem in Africa, and working with other businesses to expand access to digital assets is an important part of the brand’s ambitious growth strategy” adds Player. “We welcome startups, mobile wallets and other fintechs to build on VALR and use our powerful API to create exciting products for their customers.
VALR BTC/ZMW and ZMW/USDC order books on the exchange will enable traders to make use of the easy-to-use but powerful VALR Pro Exchange to place limit, market and stop orders. VALR has a highly competitive and transparent fee structure, combining this with creating a market locally in Zambia for crypto against the Kwacha, will provide Zambians with the best possible pricing for crypto.
While Zambia is certainly an attractive market for us and we’re excited to offer our services in a more localised way there, it is just part of our broader expansion strategy across Africa. We are seeing a shift in attitude from regulators and governments toward crypto currency and platforms like VALR, and where we are welcome, we go. Our mission is to promote the adoption of a financial system that recognises the oneness of humanity.
We view that financial system as being underpinned by crypto infrastructure. For that to happen we need to provide a mechanism for more people to enter into this new financial world from the existing fiat money world. That is what the VALR platform does. We enable people to exchange the forms of value they earn in today’s world, to crypto assets and vice versa. Right now VALR already offers services to most African countries through USD deposits and we are working hard to add more local currency support as we grow. Zambia is just the first step in this direction and you can expect us to be opening many more markets over time.”
VALR offers its customers the ability to safely buy, sell and store Bitcoin and 60 other cryptocurrencies – the widest selection of any platform in Africa – at some of the lowest fees in the world.
VALR has processed over $10 billion of trading on the platform since launch.
VALR recently raised $50 million in one of Africa’s largest ever crypto funding round. The proceeds of the raise will be used primarily to expand across Africa and into other emerging markets such as India, and to bring more products and services to its growing base of global customers.
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