VALR receives two licenses from South Africa’s Financial Sector Conduct Authority following new requirements for exchanges in the country.
South African cryptocurrency exchange VALR has been granted new crypto asset service provider (CASP) licenses from the Financial Sector Conduct Authority (FSCA) following new requirements for industry firms.
VALR — which secured $55 million of equity funding from Pantera Capital, Coinbase Ventures and others — received Category I and II CASP licenses from the FSCA. This makes VALR one of the first cryptocurrency companies in the country to receive both licenses.
Speaking to Cointelegraph, VALR co-founder and CEO Farzam Ehsani said securing a CASP license from the FSCA was a significant milestone for the exchange.
