This week, the South African cryptocurrency exchange said it would start doing business in Zambia. With the Zambian Kwacha, Zambians can buy and sell Bitcoin (BTC), USD Coin (USDC), and more than 60 other cryptocurrencies directly on the exchange.
As the biggest cryptocurrency exchange based in Africa, VALR is happy to serve the people of Zambia now. Farzam Ehsani, CEO of VALR, said, “We’ve built a world-class product with a focus on strong security, high performance, and regulatory compliance. We’re excited to welcome the Zambian retail and institutional market to VALR.”
VALR debuted in 2019 and claimed to have over 250,000 retail consumers and 500 institutional clients, most of which are based in South Africa. Since its inception, the business claims to have generated over R167 billion ($10 billion) in trading volume.
VALR raised a $50 million Series B investment in March of this year at a valuation of $240 million. VALR indicated at the time that the funds raised would be mainly used to expand across Africa and into other emerging markets such as India and to deliver more products and services to its growing worldwide client base.
According to Ehansi, “If you own Apple stock and die, it will not change anything for Apple. “Valor’s relationship with FTX is the same,”