Africa’s largest crypto exchange partners with Onafriq to bring bitcoin to mobile money users

VALR, one of Africa’s largest crypto exchanges, has partnered with payments gateway Onafriq to allow users across 43 African markets to fund crypto wallets directly using mobile money in local currencies, connecting blockchain-based assets to a network of nearly one billion mobile money accounts.

At its core, the VALR and Onafriq Partnership is about accessibility—bringing crypto, stablecoins, and tokenized assets to a mobile-first population that has historically been underserved by formal financial institutions.

Bridging Crypto and Mobile Money at Scale

Through the VALR and Onafriq Partnership, users across Africa can now deposit funds into their wallets via mobile money platforms, bypassing the delays and limitations associated with banks.

VALR, one of Africa’s largest digital asset exchanges, has integrated directly with Onafriq, a payments gateway that connects nearly one billion mobile money wallets across 43 markets.

This scale is critical. According to data from the GSMA, mobile money adoption continues to surge, with registered accounts reaching 2.1 billion globally by the end of 2024.

The VALR and Onafriq Partnership taps directly into this growth, positioning itself at the intersection of telecom-driven finance and blockchain-based assets.

A Financial System Built for Africa

Mobile money has already transformed how money moves across sub-Saharan Africa, and the VALR and Onafriq Partnership builds on that foundation.

In 2023 alone, mobile money contributed approximately $190 billion to the region’s GDP, underscoring its importance as a financial backbone. In key economies like Kenya, Nigeria, and Ghana, mobile transactions consistently outperform traditional methods such as card payments and bank transfers.

By aligning with this reality, the VALR and Onafriq Partnership ensures that users are not forced to adopt unfamiliar systems. Instead, it meets them where they already are on their phones.

Stablecoins Power the Infrastructure

Behind the scenes, the VALR and Onafriq Partnership relies on stablecoin-based settlement to process transactions efficiently.

When a user deposits local currency through a mobile money provider, the system converts and settles the transaction using stablecoins. This approach ensures faster processing times and reduces volatility risks typically associated with cryptocurrencies.

Once funds are credited, users can access VALR’s full ecosystem, including spot and margin trading for bitcoin and over 100 digital assets. The VALR and Onafriq Partnership also opens the door to real-world asset exposure, such as tokenized gold, equities, and private credit instruments.

Industry Leaders Highlight Real-World Impact

Executives from both companies emphasized the broader implications of the VALR and Onafriq Partnership, particularly in expanding financial inclusion.

Farzam Ehsani, co-founder and CEO of VALR, pointed to the transformative role mobile money has already played across the continent.

“Mobile money has already reshaped financial access across Africa,” Ehsani said. “With the VALR and Onafriq Partnership, we are creating a direct bridge between local currencies and digital assets, giving millions a practical pathway to bitcoin, stablecoins, and innovative financial tools.”

From Onafriq’s side, Dare Okoudjou described the collaboration as a natural evolution of its payments ecosystem.

“VALR is a recognized pioneer in blockchain technology,” Okoudjou said. “This partnership allows our network of nearly one billion wallet users to transact more freely within the digital asset economy.”

Backed by Strong Institutional Support

The VALR and Onafriq Partnership also benefits from VALR’s established position in the crypto industry.

Founded in 2018, VALR has grown to serve more than 1.7 million users and over 2,000 institutional clients. The company is backed by major investors including Coinbase Ventures and Pantera Capital, adding credibility to its expansion strategy.

It is also licensed by South Africa’s Financial Sector Conduct Authority, reinforcing regulatory compliance as the VALR and Onafriq Partnership scales across multiple jurisdictions.

Unlocking New Economic Opportunities

Beyond trading, the VALR and Onafriq Partnership has broader implications for economic participation.

By lowering entry barriers, the initiative enables individuals and businesses to engage with global financial markets in ways that were previously inaccessible. For many users, this could mean hedging against currency volatility, accessing new investment opportunities, or participating in decentralized finance ecosystems.

The VALR and Onafriq Partnership is particularly significant in regions where inflation and currency instability have driven demand for alternative stores of value.

A Defining Moment for African Crypto Adoption

As crypto adoption accelerates globally, Africa remains one of the most dynamic and fast-growing markets. The VALR and Onafriq Partnership positions both companies at the forefront of this trend, leveraging existing infrastructure to deliver new financial capabilities.

By combining the reach of mobile money with the flexibility of blockchain technology, the VALR and Onafriq Partnership represents a practical and scalable model for crypto adoption in emerging markets.

While challenges around regulation and education remain, the initiative signals a clear direction, the future of finance in Africa will likely be mobile, digital, and increasingly decentralized.

For now, the VALR and Onafriq Partnership stands as a major step toward that future one where access to global financial tools is no longer limited by geography or legacy banking systems.