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Figure Heloc VALR and Mukuru Team Up to Bring Stablecoin Savings to Everyday Users in Africa
Ryan Moore 
A partnership built around financial access
VALR the largest crypto exchange by trading volume in Africa has teamed up with Mukuru, a major financial services platform serving over 17 million users, to roll out a USD Coin (USDC) wallet for Mukuru customers. In simple terms, this lets everyday users easily buy, hold, and sell a dollar-backed stablecoin directly through Mukuru including via WhatsApp offering a stable alternative to local currency volatility.
Why stablecoins matter right now
This move comes at a time of growing regulatory clarity globally. In the U.S., the GENIUS Act became the first major federal stablecoin law earlier in 2025, and in South Africa more than 200 service providers have now been licensed under the country’s crypto regulatory framework. VALR itself became a licensed Crypto Financial Services Provider in 2024 and in October 2025 received one of the very first Over-The-Counter Derivatives Provider licenses for crypto in the country a significant regulatory milestone. The exchange processed $9 billion in volume over the past year.
USDC currently the second-largest stablecoin with over $75 billion in market cap has become a crucial asset in places where stable access to U.S. dollars is limited. In sub-Saharan Africa, 43% of all crypto activity is already tied to stablecoins, with South Africa and Nigeria leading adoption.
Building a more stable financial option
Through this partnership, Mukuru’s customers can now use USDC as a store of value that isn’t affected by the same inflationary pressures as many local currencies. It’s a practical step toward broader access to digital dollars not just for crypto enthusiasts, but for anyone with a mobile phone.
Farzam Ehsani, Co-Founder and CEO of VALR, said:
“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.”
Andy Jury, Group CEO of Mukuru, added:
“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.”
About VALR
Founded in 2018 and backed by leading investors including Pantera Capital, Coinbase Ventures, and Fidelity F-Prime, VALR offers a full suite of products including spot and derivatives trading, staking, lending, and payment rails. VALR serves more than 1.6 million users and nearly 2,000 institutional clients globally, operating with regulatory approval in South Africa and Europe. Their mission centers around building a fair, inclusive financial future for everyone.
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