South African crypto exchange VALR has partnered with fintech firm Mukuru to launch a USD Coin (USDC) wallet, giving millions of Mukuru customers across Africa access to regulated stablecoin savings.
The wallet is built on VALR’s infrastructure and is integrated directly into Mukuru’s WhatsApp platform, allowing users to buy, hold, and sell USDC through a familiar messaging interface. Customers can cash in and out to their South African rand (ZAR) using Mukuru’s existing payment network, with USDC balances tracked via the VALR-powered wallet.
According to VALR, this partnership is a strategic push to deepen financial inclusion by offering a hedge against local currency volatility. In many African markets, local currencies are vulnerable to inflation , USDC provides an alternative store of value that can help protect users’ savings in more stable, digital U.S. dollars.
VALR’s co-founder and CEO, Farzam Ehsani, said the exchange is “proud to support Mukuru with the crypto infrastructure needed to launch this offering,” calling the collaboration “a profound step toward realizing our shared vision of an inclusive financial ecosystem.” Andy Jury, Group CEO of Mukuru, added that the initiative reflects Mukuru’s evolution: “We are enabling Africa’s emerging consumers to send, store, and spend value seamlessly … and opening doors to savings and investment opportunities.”
Mukuru serves over 17 million customers across Africa, Asia, and Europe, and its extensive network includes both digital and physical channels. Through this collaboration, VALR and Mukuru are positioning USDC not just as a trading asset, but as a savings product, especially for users who need reliable access to a stable digital dollar.
As the stablecoin ecosystem evolves, this deal highlights a growing trend in Africa: crypto infrastructure that supports real economic use cases beyond speculation. For Mukuru’s users, the addition of USDC savings may become a practical way to preserve value, while offering VALR a powerful distribution channel into the everyday lives of millions.
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