VALR, a crypto exchange based in South Africa, has announced a partnership with Visa to enable crypto payments in the country and globally. The collaboration aims to address the limitations of traditional banking systems and tap into the potential of cryptocurrencies. With regulatory restrictions slowing down settlement times, crypto payments have emerged as a viable alternative. VALR, which recently obtained approval to offer crypto services in Europe, is also in the process of acquiring licenses in South Africa, Dubai, and Mauritius. The exchange provides innovative services such as VALR Pay, blockchain staking, spot margin trading, and is working on introducing perpetual futures. Through the partnership with Visa, VALR customers will be able to make and receive payments globally using Visa’s network.
Visa, a leading payments giant, is eager to work with VALR in issuing Visa credentials to its customers. The collaboration aims to develop innovative payment and card products that empower VALR customers to leverage the global reach of the Visa network. Visa already has partnerships with prominent players in the crypto industry like Coinbase, Circle, Crypto.com, and Solana, highlighting its commitment to embracing the advancements brought by cryptocurrencies. As crypto payments continue to gain traction, the partnership between VALR and Visa opens up various possibilities, although the evolving relationship between crypto and traditional finance, coupled with regulatory challenges, remains to be seen.
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