African crypto exchange and digital asset infrastructure provider VALR has secured provisional approval from the Cayman Islands Monetary Authority to operate as a Virtual Asset Service Provider in the Cayman Islands, marking a major step in the company’s international expansion strategy.
The provisional VASP approval allows VALR to offer a broad range of digital asset services in the jurisdiction, including crypto trading and exchange services, custody solutions, and cross-border virtual asset transfers.
The Johannesburg-based company said the approval strengthens its ambition to connect African crypto markets with global institutional capital while expanding its infrastructure footprint beyond the continent.
VALR already operates under multiple South African regulatory approvals, including Category I and II licenses from the Financial Sector Conduct Authority. The company also holds ODP and TPPP licenses and is registered with South Africa’s National Credit Regulator as a credit provider.
Farzam Ehsani, co-founder and CEO of VALR, said the Cayman Islands approval represents a significant milestone in extending the company’s infrastructure services to international clients.
“For close to a decade, we have built deep expertise as Africa’s leading digital asset infrastructure platform, serving retail customers, corporate clients, and institutional partners with secure, advanced technology,” Ehsani said.
He added that VALR has become a significant participant in global stablecoin markets, helping facilitate more efficient payments and cross-border value transfers.
The company said it is continuing to work closely with CIMA to satisfy the remaining compliance requirements needed to obtain a full VASP license.
The latest regulatory development comes as crypto firms increasingly seek compliant international structures to serve institutional investors and expand stablecoin and payments infrastructure globally. Cayman Islands licensing has become an attractive route for digital asset companies looking to access international markets while operating within recognized regulatory frameworks.
VALR currently serves more than 1.8 million users and over 2,000 institutional clients globally.
