PRESS RELEASE | VALR and Mukuru Partner to Advance USDC Stablecoin Savings in Africa

[PRESS RELEASE]

VALR, the largest crypto exchange in Africa by trade volume, has partnered with Mukuru, a leading financial services platform serving over 17 million customers across Africa, Asia and Europe, to introduce a USDC wallet.

This collaboration provides infrastructure for users to access USDC, a USD-backed stablecoin, supporting broader adoption of alternative savings options in regions facing currency volatility.

The VALR-Mukuru partnership takes place against a backdrop of increasing interest and regulatory clarity in stablecoins globally, with the GENIUS Act – America’s first major federal legislation on stablecoins – coming into law in July 2025.

South Africa’s crypto asset regulatory framework has also provided much clarity in the country, with over 200 crypto asset service providers being licensed since April 2024, boosting its role as a hub for crypto innovation. In addition to becoming a licensed Crypto Financial Services Provider in 2024, VALR was granted an Over-The-Counter Derivatives Provider license from the Financial Sector Conduct Authority (FSCA) in October 2025, becoming one of the first recipients of these licenses for crypto assets in the country.

VALR processed $9 billion in trading volume over the past 12 months.

USDC, the second largest stablecoin in the world with a market cap of over $75 billion, serves as an increasingly important store of value in markets with limited hard currency access. In sub-Saharan Africa, stablecoins represent 43% of crypto transaction volume, per Chainalysis data, with South Africa and Nigeria at the forefront.

The VALR-powered USDC wallet, accessible via Mukuru’s WhatsApp platform, allows Mukuru’s millions of users to purchase, hold, and sell USDC, reducing exposure to local currency fluctuations.

Farzam Ehsani, Co-Founder and CEO of VALR, stated:

“VALR is proud to support Mukuru with the crypto infrastructure needed to launch this offering.

This partnership is a profound step toward realising our shared vision of an inclusive financial ecosystem that unites humanity, advancing financial services in society.”

Andy Jury, Group CEO of Mukuru, added:

“This partnership with VALR is a clear step forward in our strategy to enable Africa’s emerging consumers to send, store, and spend value seamlessly. It reflects Mukuru’s evolution into a platform that not only facilitates everyday financial transactions but also opens doors to savings and investment opportunities.”

About VALR

Founded in 2018, headquartered in Johannesburg, and backed by leading investors including Pantera Capital, Coinbase Ventures and Fidelity’s F-Prime, VALR is a global crypto exchange offering a comprehensive suite of products—including Spot Trading, Spot Margin, Perpetual Futures, Staking, Lending, Borrowing, OTC services, VALR Invest, and VALR Pay. Licensed by South Africa’s FSCA, with regulatory approval in Europe, VALR serves over 1.6 million users and 1,900 corporate and institutional clients worldwide.

The exchange is dedicated to advancing a just financial future that upholds human dignity and the unity of mankind.

For more information, visit valr.com.

About Mukuru

Mukuru is a leading next-generation financial services platform serving over 17 million customers across Africa, Asia and Europe. With more than 100 million transactions processed across 570+ corridors, Mukuru leverages technology to provide affordable, accessible financial services via both physical and digital channels.

Recognised six times in the FXC Intelligence Top 100 Cross-Border Payment Companies, Mukuru is also an award-winning employer and innovation leader www.mukuru.com

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