VALR Partners Onafriq to Enable Mobile Money Crypto Across Africa

Dare Okoudjou (Onafriq CEO) and Farzam Ehsani (VALR Co-Founder & CEO)

Africa’s largest cryptocurrency exchange, VALR, has partnered with digital payments gateway Onafriq to enable seamless crypto purchases using mobile money across the continent.

The integration allows users in 43 African markets to fund their crypto accounts directly through mobile money wallets in local currencies—eliminating the need for traditional bank accounts.

Bridging Crypto Access with Mobile Money

Through the partnership, users can deposit currencies such as Nigerian naira, Kenyan shillings, Ghanaian cedis, and Ugandan shillings using widely adopted services like M-Pesa and MTN MoMo. These funds can then be used to purchase digital assets including Bitcoin, stablecoins, tokenised gold, and over 100 other cryptocurrencies available on VALR’s platform.

The system leverages Onafriq’s extensive infrastructure, which connects nearly one billion mobile money wallets across Africa, making it one of the largest digital payment networks on the continent.

Notably, transactions between both platforms are processed using stablecoins, bypassing traditional banking rails that remain inaccessible to many Africans.

Solving a Key Barrier to Crypto Adoption

According to Farzam Ehsani, the partnership builds on the success of mobile money in expanding financial inclusion across Africa.

“By enabling direct connections in local currencies, we offer millions a practical pathway to Bitcoin, stablecoins, tokenised gold, and more.”

For Dare Okoudjou, the collaboration represents a step forward in connecting financial ecosystems across the continent. He described VALR as a leader in blockchain and stablecoin innovation, noting that the partnership will help extend these benefits to more users and businesses.

Leveraging Existing Financial Behaviour

The significance of the partnership lies in its ability to align with existing financial habits. While many Africans lack access to bank accounts or international payment systems, mobile money is already deeply embedded in everyday transactions.

By integrating crypto access directly into mobile money workflows, VALR and Onafriq are effectively removing one of the biggest friction points in crypto adoption—funding accounts.

According to the GSMA, mobile money platforms processed 108 billion transactions worth $1.68 trillion in 2024, marking a 20% year-on-year increase. In Sub-Saharan Africa alone, the sector contributed approximately $190 billion to GDP in 2023, highlighting its economic significance.

Expanding Africa’s Digital Financial Ecosystem

Founded in 2018 and headquartered in Johannesburg, VALR serves over 1.7 million users and 2,000 institutional clients globally. The platform is licensed by South Africa’s Financial Sector Conduct Authority and has regulatory approval to operate in Europe.

By integrating with Onafriq’s network—which spans mobile wallets, bank accounts, and over 400,000 agents in Nigeria alone—VALR is positioning itself at the intersection of crypto infrastructure and Africa’s dominant payment rails.

The Bigger Picture

As digital finance continues to evolve across Africa, the convergence of mobile money and cryptocurrency is emerging as a powerful enabler of financial inclusion.

The VALR–Onafriq partnership demonstrates how leveraging existing infrastructure can accelerate adoption, reduce reliance on traditional banking systems, and unlock new economic opportunities for millions across the continent.

Source: Disrupt Africa