VALR and Mukuru Collaborate to Promote USD Stablecoin Savings Across Africa (17 Nov)

Partnership Announcement: VALR has partnered with Mukuru to introduce a USD Coin (USDC) wallet in South Africa, enhancing financial access through regulated crypto solutions for users in regions with currency volatility.

Regulatory Context: This collaboration occurs amid increasing global interest in stablecoins and a clearer regulatory framework in South Africa, where over 200 crypto service providers have been licensed since April 2024.

Market Impact: USDC, the second largest stablecoin globally, is becoming a vital store of value in sub-Saharan Africa, where stablecoins account for 43% of crypto transaction volume, particularly in South Africa and Nigeria.

Vision for Financial Inclusion: Both VALR and Mukuru aim to create an inclusive financial ecosystem, enabling users to send, store, and invest value seamlessly, thereby advancing financial services in society.