VALR & Mukuru Launch USDC Wallet for African Savings

The partnership between VALR and Mukuru represents a strategic alignment of two major financial technology players in Africa. VALR, which processed $9 billion in trading volume over the past 12 months and serves over 1.6 million users globally, brings its crypto infrastructure expertise to Mukuru’s extensive customer base of 17 million across Africa, Asia, and Europe. The integration allows Mukuru users to purchase, hold, and sell USD Coin (USDC) directly through Mukuru’s WhatsApp platform, creating a seamless entry point to stablecoin adoption for millions who might otherwise lack access to traditional financial services.

Farzam Ehsani, Co-Founder and CEO of VALR, emphasized the partnership’s significance, stating: “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.” Similarly, Andy Jury, Group CEO of Mukuru, highlighted the strategic importance: “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.”

The collaboration directly targets one of Africa’s most pressing financial challenges: local currency volatility. USDC, the world’s second-largest stablecoin with a market capitalization exceeding $75 billion, provides a stable store of value backed by the US dollar. This is particularly crucial in sub-Saharan Africa, where stablecoins already represent 43% of all crypto transaction volume according to Chainalysis data. By offering USDC access through an established platform like Mukuru, which has processed over 100 million transactions across 570+ corridors, users can reduce their exposure to local currency fluctuations while maintaining accessibility through familiar digital channels.

The timing of this partnership aligns with growing global recognition of stablecoins’ role in financial systems. The GENIUS Act, America’s first major federal legislation on stablecoins, came into law in July 2025, providing regulatory clarity that has encouraged further adoption and innovation. In South Africa specifically, the crypto asset regulatory framework has licensed over 200 crypto asset service providers since April 2024, creating an environment conducive to partnerships like the one between VALR and Mukuru that prioritize regulatory compliance while expanding financial access.

VALR’s regulatory standing has been crucial to this partnership’s viability. The exchange became a licensed Crypto Financial Services Provider in 2024 and, in October 2025, received an Over-The-Counter Derivatives Provider license from South Africa’s Financial Sector Conduct Authority (FSCA), making it one of the first recipients of such licenses for crypto assets in the country. These regulatory achievements, combined with backing from prominent investors including Pantera Capital, Coinbase Ventures, and Fidelity’s F-Prime, position VALR as a trusted infrastructure provider in Africa’s evolving digital asset landscape.

South Africa’s emergence as a crypto innovation hub is further evidenced by the country’s leadership in stablecoin adoption alongside Nigeria. The VALR-Mukuru partnership leverages this position to serve not only South African users but also Mukuru’s broader customer base across multiple continents. With Mukuru having been recognized six times in the FXC Intelligence Top 100 Cross-Border Payment Companies, the partnership combines regulatory compliance, technological infrastructure, and extensive market reach to create what both companies describe as a step toward a more inclusive financial future.