Key Takeaways:
- VALR and Onafriq integrated to allow mobile money funding across 43 African markets in 2026.
- Mobile money added $190 billion to GDP in 2023, making this Onafriq deal vital for local growth.
- Over 1.7 million VALR users can now access Bitcoin and tokenized gold via 1 billion mobile wallets.
Expanding Financial Access Through Mobile Networks
Cryptocurrency exchange VALR announced a strategic partnership with digital payments gateway Onafriq to enable African users to fund their wallets using mobile money in local currencies. By bypassing traditional banking hurdles, the collaboration aims to bring financial tools ranging from bitcoin to tokenized gold to a massive, mobile-first population.
According to a media statement, the integration leverages Onafriq’s network, which connects nearly 1 billion mobile money wallets across 43 markets. Data from the GSMA State of the Industry Report 2025 underscores this shift, showing that registered mobile money accounts hit 2.1 billion by late 2024.
In sub-Saharan Africa, mobile money contributed roughly $190 billion to gross domestic product in 2023. In markets such as Kenya, Nigeria, and Ghana, mobile money transactions significantly outperform credit cards and bank transfers for domestic use.
The technical core of the partnership involves stablecoin settlements. When a user deposits local currency via mobile money platforms, the transaction is processed using stablecoins to ensure speed and stability. Once funded, users gain access to VALR’s full suite of products, including spot and margin trading for bitcoin and more than 100 crypto assets. They also gain access to real-world assets like gold, equities, and private credit.
Farzam Ehsani, co-founder and CEO of VALR, highlighted the human impact of the deal.
“Mobile money has already reshaped financial access across the African continent,” Ehsani said. “By enabling direct connections in local currencies, we offer millions a practical pathway to bitcoin, stablecoins, and innovative financial tools, supporting greater economic participation for everyone.”
Dare Okoudjou, founder and CEO of Onafriq, echoed this sentiment, noting that VALR is a “recognized pioneer” in blockchain technology. He emphasized that the deal allows Onafriq’s 1 billion wallet users to “transact freely” within the digital asset ecosystem.
Founded in 2018 and backed by Coinbase Ventures and Pantera Capital, VALR already serves more than 1.7 million users and 2,000 institutional clients. It is licensed by South Africa’s Financial Sector Conduct Authority.
Source: https://news.bitcoin.com/valr-and-onafriq-pioneer-direct-local-currency-funding-for-african-crypto-users/
