South Africa's FSCA Approves 75 Crypto Asset Service Providers
The Financial Sector Conduct Authority (FSCA) in South Africa has made significant strides in regulating the crypto industry. As of early 2025, it has approved 75 crypto asset service providers (CASPs) to operate in the country, with multiple entities securing licenses for various services.
The licensing process began in June 2023, with a November 2023 deadline for applications. Since then, several prominent names have received approval. VALR, Indexa South Africa, and Wealth Tap have been granted Category I licenses, enabling them to offer Advisory and Intermediary services. Luno has also secured a Category I license, further expanding its offerings.
Peresec Fund Platform has been approved for both Category I and II licenses, allowing it to provide Investment Management services in addition to Advisory and Intermediary services. Similarly, Peresec Prime Brokers, CAEP Asset Managers, and Kudala Wealth have been approved for Categories I, II, and IIA licenses, respectively, indicating a diverse range of services now available in the regulated crypto market.
The FSCA has clarified that approved CASPs, such as ARC Capital, DFM Global, and Unum Capital, can offer various services depending on their license category. The FSCA has received 374 license applications to date and continues to provide updates as more CASPs are processed and approved.
With 75 CASPs now licensed, South Africa's crypto industry is seeing significant growth and regulation. The FSCA's ongoing process ensures a robust and expanding ecosystem for crypto services in the country.
