Crypto Exchange VALR Partners with Visa to Enable Crypto Payments
Crypto exchange VALR has announced a partnership with Visa that aims to enable crypto payments in South Africa and globally. As an alternative to traditional banking, crypto payments have the potential to fill a void due to their faster settlement times and lack of regulatory restrictions. While VALR is relatively unknown outside South Africa, it recently gained approval to offer crypto services in Europe and is working on acquiring licenses in South Africa, Dubai, and Mauritius.
Innovative Services Offered by VALR
VALR offers innovative services such as VALR Pay, blockchain staking, spot margin trading, and is planning to introduce perpetual futures. The partnership with Visa will allow VALR customers to utilize Visa’s global network for making and receiving payments.
Visa’s Collaboration with VALR
Visa South Africa’s General Manager, Lineshree Moodley, expressed excitement about working with VALR to issue Visa credentials to VALR customers. The partnership aims to develop innovative payment and card products that empower VALR customers to make global payments using the Visa network.
Visa’s Involvement in the Crypto Space
Visa has already collaborated with prominent crypto companies such as Coinbase, Circle, Crypto.com, and Solana. This partnership signifies Visa’s commitment to embracing the innovations brought by the crypto sector. However, it remains to be seen how crypto payments will navigate the challenges posed by traditional finance and regulatory regimes.
Hot Take: Expanding Crypto Payments through VALR-Visa Partnership
The partnership between crypto exchange VALR and Visa marks an important step towards expanding the reach of crypto payments. By leveraging Visa’s global network, VALR customers will have access to a wide range of payment options. This collaboration not only showcases Visa’s willingness to embrace the crypto sector but also highlights the potential for crypto payments to revolutionize the traditional financial system. As the partnership evolves, it will be interesting to see how this space develops and if regulatory challenges can be overcome to fully realize the benefits of crypto payments.
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