Crypto Exchange VALR Obtains South African License

South African crypto exchange VALR has obtained a license from the country's financial regulator, the company announced Monday. Pantera-backed VALR, which was valued at $240 million in March 2022, is among the first batch of crypto firms to obtain approvals from South Africa's Financial Sector Conduct Authority (FSCA). The FSCA began accepting license applications in 2023 after the African country approved legislation to expand the regulator's scope to include crypto oversight. VALR, headquartered in Johannesburg, said that it has been granted Category I and Category II licenses by the FSCA as a crypto asset service provider (CASP).

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