Farzam Ehsani, co-founder of VALR, noted that the exchange was recently given approval to offer crypto services in Poland after receiving initial approval from Dubai’s crypto regulator VARA. The exchange is also pursuing a license in Mauritius with the goal of providing products and services to a growing global audience and becoming a global player. Despite offering services across Africa, VALR has chosen not to expand its operations to Nigeria. Established in 2018, VALR achieved a $240 million valuation in 2022 through a successful fundraising round led by Pantera Capital.
Other investors, such as Alameda Research, Cadenza, CMT Digital, Coinbase Ventures, Distributed Global, GSR, Third Prime, and Avon Ventures, also participated in the funding.