- Strategic Partnership with First Digital
- VALR's Role in Transforming Financial Systems
- Expanding Global Access to FDUSD
Africa's largest cryptocurrency exchange by trading volume, VALR, has announced the listing of First Digital's FDUSD stablecoin. This move is part of a broader collaboration between VALR and First Digital aimed at increasing accessibility and distribution of FDUSD.
Strategic Partnership with First Digital
On September 23, VALR will introduce three new spot trading pairs: BTC/FDUSD, FDUSD/ZAR, and FDUSD/USDT, providing global users with access to FDUSD on the VALR platform. In the coming months, the companies plan initiatives aimed at driving trading volume and usage of FDUSD through VALR Pay, VALR’s payments platform.
VALR's Role in Transforming Financial Systems
Founded in 2018 and backed by Pantera Capital, VALR focuses on revolutionizing traditional financial infrastructure through the adoption of digital assets and stablecoins. Stablecoins like FDUSD are essential for users seeking financial stability and transactional efficiency. "We’re pleased to bring FDUSD to our platform in partnership with First Digital," said Farzam Ehsani, Co-founder and CEO of VALR. "Stablecoins like FDUSD play an important role in the evolution of the global financial system, and VALR is well-positioned to facilitate their adoption given our global reach and robust fiat infrastructure."
Expanding Global Access to FDUSD
"Our partnership with VALR will bring FDUSD to a wider audience, particularly in Africa, where the need for financial stability and accessible digital assets is growing," said Vincent Chok, CEO of First Digital. FDUSD, issued by Hong Kong-based First Digital under its subsidiary First Digital Labs, is a stablecoin backed by cash reserves and highly-liquid US Treasury investments. Built on Ethereum, BNB Chain, Sui Network, with support from other protocols in the future, FDUSD is designed to provide stability and security for a range of financial services.
The collaboration between VALR and First Digital marks a significant step in the global distribution of stablecoins. The increased accessibility of FDUSD is expected to play a key role in providing stable digital assets to users and businesses in both emerging and developed markets.
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