South African cryptocurrency exchange VALR has been granted a license by the country's financial regulator, the Financial Sector Conduct Authority (FSCA). The Pantera-backed exchange was valued at $240 million in March 2022 and is among the first batch of crypto firms to receive approval from the FSCA. The FSCA began accepting license applications in 2023 after South Africa approved legislation to expand the regulator's scope to include crypto oversight. VALR has been granted Category I and Category II licenses as a crypto asset service provider (CASP) and serves over 1000 corporate and institutional clients and more than half a million crypto traders worldwide.