Pantera-backed VALR Hits 1 Million Users Milestone

VALR, the Pantera-backed crypto exchange and the largest crypto trading platform in Africa by net trading volume, announced today that its user base surged by 100% in last year, surpassing the one million mark. This milestone is reached as the exchange completes a major global expansion phase accompanied by Bitcoin’s (BTC) price run over $90,000.

VALR userbase adds 100% in 12 months, hits one million accounts

Cryptocurrency exchange VALR, the most popular African digital asset service, shares impressive growth statistics. In the last 12 months, it onboarded 500,000 new users and more than doubled its active accounts base. It is a notable increase from the initial 500,000 who joined during the first 5.5 years since VALR’s founding in 2018.

According to the team’s statement, these statistics include over 1,100 institutional and corporate clients. The proportion of international users has surged also. As of Q4, 2024, more than 25% of VALR customers have been registered from outside South Africa.

In 2022, VALR raised its $50 million Series B round – the largest crypto fundraising in Africa to date – led by prominent investors including Pantera Capital, Coinbase Ventures and F-Prime, an investment arm of Fidelity. This campaign pushed the total raise for VALR above $55 million.

VALR started as a spot-only crypto exchange and has since added multiple products to serve its international client base, including spot margin, perpetual futures, staking, lending, an over-the-counter (OTC) trading desk and a leading application programming interface (API) for its high-frequency traders. 

As covered by U.Today previously, starting from August 2024, VALR exchange added support for EUROC, a euro-pegged stablecoin.

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It also enabled EUR fiat deposits. In late Q2, 2024, the exchange ran a massive Solana Summer Event with generous SOL rewards.

From regional dominance to global expansion

Farzam Ehsani, cofounder and CEO of VALR, appreciates the latest accomplishments of his team in bringing a new generation of users to Web3:

It’s inspiring to see how far we’ve come since 2018. Surpassing one million users, with half a million joining us this year, is a testament to our team’s dedication, the trust our customers place in us, and VALR’s momentum. As we continue our growth, we remain committed to providing innovative, high-quality services that serve not just individual traders, but also larger institutions and fintechs looking to build the future of finance.

This year, VALR’s team embarked on an international tour, engaging with partners and communities across 12 countries in Asia, Africa, Europe and the Middle East, further raising the brand’s global profile.

As a Platinum Sponsor at Token2049, the world’s largest crypto event, VALR, positions itself as a values-driven exchange that prioritizes the customer experience and high standards in both technology and service.