VALR, the Pantera-backed cryptocurrency exchange and Africa's largest crypto trading platform by volume, today announced it has doubled its user base in 2024, surpassing the 1 million user milestone. This growth coincides with VALR's continued global expansion and a resurgent crypto market where Bitcoin recently hit record highs above $85,000.
Accelerated User Acquisition
The platform added 500,000 new users this year alone - matching its total user acquisition during the first five-and-a-half years since its 2018 launch. This expanded clientele includes:
- Over 1,100 institutional and corporate clients
- Growing international adoption (25%+ users now from outside South Africa)
👉 Discover how VALR simplifies institutional crypto trading
Funding and Product Expansion
In 2022, VALR secured $50 million in Series B funding - the largest crypto financing round in Africa's history - led by prominent investors including:
- Pantera Capital
- Coinbase Ventures
- F-Prime (Fidelity Investments affiliate)
With total funding now at $55 million, VALR has evolved from basic spot trading to offer:
- Spot margin trading
- Perpetual contracts
- Staking and lending services
- OTC trading desks
- High-performance APIs for traders
Regulatory Milestones
VALR achieved several key 2024 milestones:
- Became among the first exchanges licensed by South Africa's FSCA (Category I & II)
- Received preliminary approval from Dubai's VARA
- Expanded regulatory presence in Europe
Global Brand Building
The VALR team conducted international roadshows across 12 countries in:
- Asia
- Africa
- Europe
- Middle East
As platinum sponsor of Token2049 (the world's largest crypto event), VALR positions itself as a values-driven exchange prioritizing:
- Exceptional client experience
- Technological excellence
- Service integrity
👉 Learn about VALR's institutional-grade security
Leadership Perspective
"Reaching 1 million users validates our team's dedication and VALR's strong momentum. We'll continue delivering innovative services for both retail traders and institutions building tomorrow's financial systems,"
— Farzam Ehsani, VALR CEO & Co-founder
Growth Initiatives
Key 2024 programs driving user acquisition:
| Initiative | Description | Reward Structure |
|---|---|---|
| VALR Grand Slam | Year-long derivatives competition | $5M monthly prize pool |
| Trading Arena | ROI-based weekly/monthly contests | Performance-based awards |
The exchange also launched a Chinese-localized app version in October to serve its growing Asian user base.
About VALR
Core Offerings:
- Spot & margin trading
- Derivatives
- Staking/lending
- OTC services
- VALR Pay
Key Facts:
- Founded: 2018
- Headquarters: Johannesburg
- Total funding: $55M
- Regulatory status: Licensed in South Africa, Europe, and Dubai (pending)
FAQ
Q: Is VALR available in the United States?
A: Not currently - VALR primarily serves African, Asian, and European markets.
Q: What makes VALR different from other exchanges?
A: Its combination of institutional-grade infrastructure with localized retail services across emerging markets.
Q: How does VALR ensure fund security?
A: Through regulated custody solutions and robust risk management protocols.
Important Note: Crypto trading involves significant risk of capital loss due to market volatility. VALR (Pty) Ltd is a licensed Financial Services Provider (FSP #53308).