In a significant move aimed at deepening crypto adoption and financial inclusion across Africa, cryptocurrency exchange VALR has partnered with digital payments gateway Onafriq to allow users in 43 African markets to fund their accounts using mobile money directly.
The integration connects popular mobile payment platforms such as M-PESA and MTN Mobile Money to VALR’s platform, giving users seamless access to global crypto markets and tokenised real-world assets using local currencies.
According to the companies, the partnership addresses a critical gap by providing a direct on-ramp for millions of Africans who remain underserved by traditional banking systems.
By leveraging Onafriq’s vast network of approximately one billion wallets, the collaboration enables instant local-currency deposits into crypto accounts, bypassing many of the hurdles posed by conventional banking infrastructure.
This development comes as mobile money continues to dominate financial transactions in Sub-Saharan Africa. The sector contributed approximately $190 billion to the region’s GDP in 2023, with mobile wallets often serving as the primary, and sometimes only , financial tool for users in key markets like Kenya and Nigeria, far outpacing credit card usage.
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“By enabling direct connections in local currencies, we offer millions a practical pathway to Bitcoin and innovative financial tools,” said Farzam Ehsani, CEO of VALR.
The partnership positions VALR, which currently serves 1.7 million users, to expand its reach in a highly competitive African crypto landscape. The exchange faces stiff competition from global players like Binance and regional rivals such as Luno, all competing for a share of the continent’s rapidly growing digital asset trade volume.
A key feature of the integration is the use of stablecoins for all settlements within the Onafriq network, which is expected to deliver greater stability, speed, and efficiency, particularly for cross-border transactions.
Dare Okoudjou, founder of Onafriq, added that the collaboration will allow VALR clients to transact more freely with businesses already active on the Onafriq network, further bridging traditional payments with the digital asset economy.
The alliance underscores a broader trend of convergence between Africa’s dominant mobile money ecosystem and the global cryptocurrency space, potentially unlocking new opportunities for everyday users to participate in digital finance.
