Africa’s largest cryptocurrency exchange, VALR, has partnered with the digital payments gateway Onafriq. This integration allows users in 43 African markets to fund their crypto accounts directly using mobile money in local currencies, without the need for a bank account.
The partnership, announced on Wednesday, allows anyone with a mobile money wallet (like M-Pesa or MTN MoMo) to deposit Kenyan shillings, Nigerian naira, Ghanaian cedis, or Ugandan shillings. They can then use these funds to access Bitcoin, stablecoins, tokenised gold, and over 100 other digital assets on VALR’s platform.
This integration utilises Onafriq’s extensive network, which includes almost one billion mobile money wallets throughout Africa.
This is the largest digital payment system on the continent. All transactions between the two platforms are handled using stablecoins. This eliminates the need for traditional banking systems, which many people in Africa cannot access.
“Mobile money has already reshaped financial access across the African continent,” said Farzam Ehsani, co-founder and CEO of VALR. “By enabling direct connections in local currencies, we offer millions a practical pathway to Bitcoin, stablecoins, tokenised gold, and more.”
Dare Okoudjou, founder and CEO of Onafriq, described the partnership as a significant step for financial connectivity. “VALR is a recognised pioneer and leader of blockchain and stablecoin technologies on the continent, and we look forward to working with them to bring the many benefits of these technologies to people and businesses across Africa,” he said.
Linking Crypto to mobile money to bypass banking barriers
This partnership is important because it offers a new solution. In Africa, most people can’t easily add money to cryptocurrency exchanges because they lack bank accounts, debit cards, or the ability to make international transfers.
However, mobile money is already widely used for daily financial transactions across the continent. This partnership avoids the need for traditional banking methods by utilising mobile money.
According to the GSMA’s 2025 mobile money report, the sector processed approximately 108 billion transactions worth over $1.68 trillion in 2024, a 20% increase in volume from the previous year.
In Sub-Saharan Africa alone, mobile money contributed around $190 billion to GDP in 2023. In most of these markets, mobile payments far outweigh credit cards and bank transfers for everyday transactions.
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By leveraging existing habits instead of requiring new ones, VALR and Onafriq are easing crypto adoption in Africa by removing a major practical obstacle.
Founded in 2018 and based in Johannesburg, VALR serves over 1.7 million users and 2,000 institutional clients globally.
Licensed by South Africa’s Financial Sector Conduct Authority and approved for operation in Europe, VALR connects to Onafriq’s network, which spans 43 African markets and includes mobile wallets, bank accounts, and over 400,000 agents in Nigeria.
