VALR crypto exchange surpasses 1 million users amid global expansion

VALR, Africa’s largest crypto trading platform by volume and backed by Pantera Capital, has announced a milestone in its user growth, with the platform now hosting over one million users.

This surge, which saw an additional 500,000 users joining VALR in 2024, comes amid rising crypto interest globally and the value of Bitcoin climbing beyond $90,000.

Founded in 2018, VALR has experienced accelerated growth this year, fueled by its expansion beyond African borders and entry into European and Asian markets.

VALR’s latest growth figures also highlight the platform’s appeal to institutional and corporate clients.

Of its total users, over 1,100 are institutions, representing the platform’s broadened focus on serving not only individual traders but also larger financial entities.

As part of this expansion, VALR has evolved from a spot-only crypto exchange to one offering spot margin, perpetual futures, staking, lending, an OTC trading desk, and a high-frequency trading API.

Backed by major investments and focused on user growth

VALR’s impressive rise is supported by strong investor confidence.

In 2022, the exchange raised $50 million in its Series B funding round, led by Pantera Capital and including backing from Coinbase Ventures and F-Prime, the investment arm of Fidelity.

This round marked the largest crypto fundraising in Africa, bringing VALR’s total funding to $55 million.

With this capital boost, VALR has expanded its operations and brand, reaching more regions and adding innovative features to its platform.

In 2024, VALR also achieved regulatory success in its home market by obtaining a Category I & II license from South Africa’s Financial Sector Conduct Authority (FSCA).

This recognition highlights VALR’s dedication to adhering to the highest regulatory standards while prioritizing transparency and user trust.

Reaching new markets and expanding services

The year 2024 has been a significant one for VALR’s international engagement.

The exchange’s team has embarked on a global outreach tour across 12 countries in Asia, Europe, the Middle East, and Africa, fostering partnerships and engaging with crypto communities worldwide.

VALR’s presence as a Platinum Sponsor at Token2049, the world’s largest crypto event, further cemented its commitment to both customer experience and technological excellence.

This international drive includes a particular focus on the Asian market. In October, VALR launched a Chinese version of its app with a localized brand and logo, aiming to better serve its growing user base in Asia.

This expansion aligns with the platform’s mission to make crypto trading accessible, secure, and user-friendly on a global scale.

VALR has also introduced initiatives designed to attract active traders and long-term users. One such initiative is the Grand Slam, a year-long trading competition featuring monthly reward pools of up to $5 million.

Another initiative, the Futures Trade Arena, engages users by allowing them to compete on return-on-investment (ROI) and profit and loss (PnL) metrics, with weekly and monthly prizes.

These competitions provide traders with additional incentives while boosting engagement on the platform.

Looking ahead: A focus on growth and trust

With the platform’s user base now exceeding one million, VALR’s Co-Founder and CEO, Farzam Ehsani, highlighted the company’s commitment to growth while ensuring high standards for technology and user experience.

“It’s inspiring to see how far we’ve come since 2018,” Ehsani said. “Surpassing one million users, with half a million joining us this year, is a testament to our team’s dedication, the trust our customers place in us, and VALR’s momentum. As we continue our growth, we remain committed to providing innovative, high-quality services that serve not just individual traders, but also larger institutions and fintechs looking to build the future of finance.”

Looking to the future, VALR’s international expansion strategy, supported by its achievements in Africa, reflects a vision for a global, secure, and regulated crypto platform. With the backing of established investors, enhanced product offerings, and its growing appeal to institutions, VALR is positioned to capture a larger share of the global crypto market in the coming years.

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