VALR said on that it received provisional approval from the Cayman Islands Monetary Authority to operate as a Virtual Asset Service Provider. According to the company, the approval gives VALR provisional authority to offer virtual asset services in the jurisdiction.
The milestone affects retail users, corporate clients and institutional partners as VALR extends its regulatory footprint beyond Africa. The provisional authorization covers fiat-to-crypto and crypto-to-crypto exchange, custody and transfer services, while VALR positions the Cayman approval as part of its international growth strategy linking African markets with global capital.
The next point to watch is full licensure. VALR said it is working with CIMA to meet final compliance conditions, and the approval adds to an existing licensing stack that includes South African FSCA Category I and II licenses, ODP and TPPP licenses, and registration as a credit provider.
Source: VALR Blog.
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