ChainCatcher news, recently, South Africa's largest cryptocurrency exchange VALR announced the launch of its Chinese version application "威乐", and will continue to iterate to cover more communities.According to data from the RootData platform, VALR was established in 2018 and has completed approximately $55 million in funding to date, with investors including Pantera Capital, 100x Venture, Bittrex, Coinbase Venture, GSR, and others.

ChainCatcher news, according to Cointelegraph, South Africa is rapidly becoming the digital asset hub of Africa. Ben Caselin, Chief Marketing Officer of the Johannesburg-based cryptocurrency exchange VALR, stated that South Africa is becoming the gateway to the African market due to its strong rule of law and independent judicial system.In April of this year, the South African Financial Sector Conduct Authority (FSCA) granted VALR a license as a Crypto Asset Service Provider (CASP). According to Statista, the revenue of South Africa's cryptocurrency market is expected to reach $332.9 million by 2028, with a compound annual growth rate of 7.86%. Caselin believes that South Africa's regulatory framework is one of the best in the world, even better than those of Hong Kong, Singapore, and the United States.

ChainCatcher news, according to CoinDesk, South African cryptocurrency exchange VALR has received regulatory approval from the country's financial regulatory authority.According to crypto data platform RootData, in March 2022, VALR secured $50 million in Series B funding, led by Pantera Capital, with participation from Alameda Research, Coinbase Ventures, and Avon Ventures. It is reported that this round of financing is the largest in the African crypto sector to date, and following the funding, VALR's valuation will reach $240 million.