NeoNomad, a South African DeFi startup, has launched the stablecoin
ZAR Coin, pegged to the South African Rand (ZAR). This news follows increasing attention on the South African Rand (ZAR), with the currency slipping against a stronger dollar, driving a potential demand for stablecoins. Major crypto exchange
Binance has boosted Bitcoin and Ether trading with fee promotions in Argentine, Brazilian, and South African currencies, potentially fueling demand for ZAR Coin. Meanwhile, the BRICS Bank issuing its first ZAR Bonds could indicate interest in South African financial markets and tokens.
A potential concern for the ZAR Coin could come from Binance abruptly delisting all South African Rand trading pairs after failing to reach their 'High-Level Standard'. However, the Rand ZARP Stablecoin, backed by South Africa's Old Mutual Wealth, is seeking to provide deep liquidity to emerging markets, potentially benefiting the ZAR Coin.
The first Rand Stablecoin, ZARP, has also gone live in South Africa on the OVEX Exchange.
VALR, a prominent South African crypto exchange, has introduced immediate ZAR withdrawals at any time to any bank account, indicating the growing adoption and utility of digital currencies in the country.
ZAR Coin News Analytics from Tue, 29 Apr 2014 07:00:00 GMT to Fri, 26 Jul 2024 04:00:44 GMT -
Rating 5
- Innovation 4
- Information 7
- Rumor -3
