VALR: crypto is here to stay

3 years ago 2

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VALR remains in a strong position, and crypto is here to stay. That’s the message from the leadership of the biggest crypto exchange headquartered in Africa.

Click here to learn more about VALR.

In the wake of a tumultuous couple of weeks in which first FTX and then Genesis faced a liquidity crisis, some financial commentators have been questioning the need for crypto at all.

But for VALR, which launched in Zambia on November 21st, the plan to bring financial inclusion to more people remains very much on track.

Maintaining trust

It’s at times like these that transparency is vital to maintain trust, and VALR has taken care to ensure that customers are kept informed.

When it first emerged that one of the world’s biggest crypto exchanges, FTX, might be in serious trouble, VALR CEO Farzam Ehsani was quick to offer insight to crypto investors in a series of threads on Twitter.

Click here read Farzam’s thread.

“As mentioned, customer assets at VALR are segregated and not commingled with VALR’s own operational funds.”

“Never have done that and never will do that,” he told followers.

As the challenges faced by FTX deepened, it was clear that transparency and leadership were crucial.

Ehsani shared a note to VALR shareholders, reiterating: “We are not a bank and do not lend out customer funds. Period.”

VALR holds customer assets 100% in reserve, meaning that every customer could withdraw their funds, and VALR would be able to service these withdrawals.

Ehsani advises customers who were worried about their funds on centralised exchanges to withdraw them until such time as they felt more comfortable.

“But it’s important to understand that risks also exist when you take custody of your own assets. So understand your risks and act accordingly.”

What’s next for VALR?

The liquidity crisis in some of the biggest names in crypto has led to a flood of “we told you so” comments by skeptics.

But crypto is here to stay, and the actions of individuals who betrayed the trust of the public won’t change that.

For VALR, expansion plans continue as the exchange moves into new markets and continues to work with corporates, businesses and startups to offer new products and services.

For example, this week’s launch of VALR in Zambia gives crypto traders access to the first full service crypto exchange and wallet available for bank transfers and mobile money in Kwacha.

Initially launching with BTCZMW (Bitcoin vs the Kwacha) and USDCZMW (USD Coin vs Kwacha) order books, VALR offers Zambians the ability to buy Bitcoin and other digital assets directly with Kwacha at the lowest effective fees in the market.

The full VALR range of digital assets and other order books is available for trade through a simple trading interface as well as an API for advanced and institutional traders.

The events of November 2022 have certainly shaken up a young and volatile industry, but this is no time to stop pushing for a fairer financial system that benefits humanity as a whole.

VALR’s name is derived from the word “valour”, which means “courage in the face of battle”, and courage and commitment matter more than ever.

The good news is that tumultuous times in the crypto world will ultimately force out the bad actors and focus the public on the importance of choosing brands that they can trust.

As VALR CEO Farzam Ehsani says, “The thesis of crypto hasn’t changed, if anything, it’s become stronger”.