VALR, Africa’s largest cryptocurrency exchange by trade volume, doubled its user base in 2024, adding 500,000 new users to surpass the one-million-user mark. The platform, established in 2018, has consistently delivered on its mission to provide seamless access to Bitcoin and 60 other cryptocurrencies, offering the broadest range of digital assets in Africa.
Farzam Ehsani, co-founder and CEO of VALR, hailed this achievement as a testament to the platform’s innovation and customer trust. “Surpassing one million users, with half a million joining us this year, underscores our momentum. We’re committed to serving individual traders and larger institutions as we build the future of finance,” Ehsani said.
Several strategic moves, including the platform’s international expansion and innovative user engagement initiatives, drive this significant growth. In October 2024, VALR launched a Chinese version of its app, accompanied by a localized brand and logo, which helped attract users from beyond South Africa’s borders. Currently, more than a quarter of VALR’s users hail from international markets, reflecting the platform’s rising global appeal.
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The company’s initiatives in 2024 also played a crucial role in boosting user numbers. These included VALR’s Grand Slam, a year-long futures trading competition offering monthly reward pools of up to $5 million, and the Futures Trade Arena, where traders compete on ROI and profit-and-loss performance for weekly and monthly prizes.
In addition to its user growth, VALR has continued to solidify its regulatory and global presence. The platform secured approval to operate in Europe and Dubai, alongside its licensing by South Africa’s Financial Sector Conduct Authority (FSCA) as a Crypto Asset Service Provider (CASP). These achievements followed its successful $50 million Series B funding round in 2022, one of the largest in Africa’s crypto sector.
Finally, with its focus on innovation, regulatory compliance, and user engagement, VALR is setting the standard for cryptocurrency exchanges in Africa, driving the continent’s digital asset adoption and solidifying its leadership position in the global crypto market.
