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 USD Coin (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.
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.”
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 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.
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.”
