VALR received a $240 million valuation in 2022 after fundraising with Pantera Capital, among the first crypto firms approved by South Africa's FSCA.
Approval signifies progress after legislation expanded FSCA oversight to include cryptocurrencies, with other platforms like Luno and Zignaly also obtaining licenses.
VALR's CEO views the FSCA's granting of CASP licenses as monumental achievement, signaling a positive regulatory shift in South Africa's crypto landscape.
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