VALR's Global Expansion Plans: Insights from our CMO, Ben Caselin
This post is an adaptation of an interview originally published on NewsBTC.
In an exclusive conversation with NewsBTC, Ben Caselin, VALR’s newly appointed Chief Marketing Officer, shares valuable insights into the macro landscape of the crypto industry and reveals VALR’s plans for international expansion.
A Brightening Macro Picture
Previously Vice President and Chief Strategy Officer at trading platform MaskEX, and before that VP at Atom Asset Exchange (AAX), Caselin has first-hand experience of bear market dejection and bull cycle euphoria. There is a sense, however, that the industry’s continued courtship of institutional players is creating ideal conditions for the next upsurge.
“When we look at the overall macro picture, from political developments in Latin America and the US for that matter, to the potential approval of BlackRock’s Bitcoin Spot ETF, regulatory developments in places like the UAE, Hong Kong and Europe, or even just the coming Bitcoin Halving, there is plenty reason for optimism,” says Caselin.
Paving the Way for Global Expansion
There’s no denying that 2023 has been a big year for VALR. From partnering with VISA to launching the world’s first perpetual futures paired with the South African Rand (ZAR), our focus is now on bringing VALR’s institutional-grade features around governance, shared accounts, and competitive rate limits to a global audience.
“Although we already serve over 900 corporate and professional traders, as well over half a million retail traders, VALR is actively preparing for international expansion,” states Caselin.
In addition to receiving an initial approval from VARA, Dubai’s Virtual Assets Regulatory Authority, VALR has also been approved to offer services in Europe and is actively building out the infrastructure to enable more fiat on and off-ramps.
Timing is everything, and VALR’s decision to expand its professional and retail user base is, on the face of it, opportune: regulatory clarity is improving and more institutional OTC marketplaces, clearinghouses and custodians backed by tradfi bellwethers are entering web3.
Recently, SkyBridge Capital founder Anthony Scaramucci suggested the much-mooted Bitcoin spot ETF approvals would attract a tsunami of interest on Wall Street, with money managers likely to allocate more of their portfolios to BTC.
“Participation by institutional investors and corporations is obviously vital to the growth of this asset class and industry, but it does not necessarily serve the underlying mission of bitcoin and DeFi,” notes Caselin.
“For example, the potential approval of BlackRock’s Bitcoin spot ETF is widely celebrated as a victory for the space, but apart from the exposure it grants to price, holding shares does not empower investors with the ability to engage in permissionless transactions or self-custody. This is something we need to be mindful of. That said, increased participation from institutions puts healthy pressure on both exchange operators and regulators to optimize for market integrity and consumer protection. That’s certainly a positive development.”
Bitcoin Leads the Way
At the time of writing, no fewer than 13 Bitcoin spot ETFs are striving for approval with many analysts predicting the world’s leading cryptocurrency will mature into a less volatile asset following the arrival of these financial instruments. Caselin, though, prefers to look at the broader picture.
“Before anything, let us recall that Bitcoin was created to offer an alternative to the current financial system which overly relies on intermediaries, and in which incumbents have outsized control over the system at detriment to financial inclusion, autonomy and freedom. Anyone who wishes to see Bitcoin and DeFi succeed is fundamentally aligned with the goal of creating a system that suits the need of our digital, globalized age and fosters participation.”
The benefits of bitcoin, of course, are perhaps most appreciated in emerging markets suffering from hyperinflation, corrupt governance and financial surveillance. That’s why VALR intends to offer valuable services in a wider variety of these emerging markets.
“It’s good to remember that most people in the world do not live in a US dollar-denominated universe and come into crypto from the basis of their own fiat currency,” states Caselin. “To be able to hedge against that position, to capitalize on the volatility in that pair, or to be able to take advantage of new market inefficiencies, is certainly valuable.”
Ultimately, VALR's goal is to replicate its success in Africa on a global scale. Despite the fiercely competitive trading landscape, VALR's value-driven approach and institutional-grade products position it to expand globally.
