VALR & Mukuru Collaborate to Launch USDC Wallet for African Users

• This partnership promotes the wider use of alternative savings choices in regions where currency volatility is a problem.
• With more than 200 crypto asset service providers approved since April 2024, South Africa’s legislative framework for crypto assets has also brought significant clarity to the nation.

A USD Coin (USDC) wallet has been introduced by VALR, the biggest cryptocurrency exchange in Africa based on trading volume, in collaboration with Mukuru, a top financial services platform that serves over 17 million users in Africa, Asia, and Europe. By enabling consumers to access USDC, a stablecoin backed by the US dollar, this partnership promotes the wider use of alternative savings choices in regions where currency volatility is a problem.

With the GENIUS Act, America’s first significant piece of federal stablecoin legislation, going into effect in July 2025, the VALR-Mukuru agreement takes place against a backdrop of growing interest in and regulatory certainty surrounding stablecoins worldwide. With more than 200 crypto asset service providers approved since April 2024, South Africa’s legislative framework for crypto assets has also brought significant clarity to the nation, strengthening its position as a center for crypto innovation. VALR was one of the first companies in the nation to obtain an Over-The-Counter Derivatives Provider license from the Financial Sector Conduct Authority in October 2025, in addition to being licensed as a Crypto Financial Services Provider in 2024. Over the previous 12 months, VALR processed $9 billion in trading volume.

With a market valuation of more than $75 billion, USDC is the second-largest stablecoin globally and is becoming a more significant store of wealth in places where access to physical currency is restricted. According to Chainalysis data, 43% of cryptocurrency transactions in sub-Saharan Africa are stablecoins, with South Africa and Nigeria leading the way. The VALR-powered USDC wallet, which is available through Mukuru’s WhatsApp platform, lowers exposure to local currency volatility by enabling Mukuru’s millions of users to buy, hold, and sell USDC.

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.”

VALR is a global cryptocurrency exchange that was founded in 2018, has its headquarters in Johannesburg, and is supported by prominent investors such as Pantera Capital, Coinbase Ventures, and Fidelity’s F-Prime. It offers a wide range of products, such as Spot Trading, Spot Margin, Perpetual Futures, Staking, Lending, Borrowing, OTC services, VALR Invest, and VALR Pay. With regulatory permission in Europe and a license from South Africa’s FSCA, VALR provides services to 1,900 corporate and institutional clients globally in addition to more than 1.6 million users. The exchange is committed to promoting a fair financial future that preserves human dignity and global solidarity.

With more than 17 million users in Africa, Asia, and Europe, Mukuru is a top platform for next-generation financial services. Mukuru uses technology to offer accessible, reasonably priced financial services through both physical and digital channels, processing over 100 million transactions over 570+ corridors. An award-winning employer and innovator, Mukuru has been named to the FXC Intelligence Top 100 Cross-Border Payment Companies six times. Mukuru.com