NeoNomad, a South African DeFi startup, launched the
ZARCoin stablecoin, pegged to the South African Rand (ZAR), instigating a ripple of excitement and concern across the crypto market. It complements the first ZAR Bonds by the
BRICS Bank, which aims to utilize local currencies, and the debut of the Rand ZARP stablecoin developed by old Mutual Wealth. This advancement, however, faces headwinds as the South African Rand experiences a dip due to the strength of the dollar. The country's cryptocurrency regulatory environment, in tandem with its adoption level, may affect the
ZAR stability.
Simultaneously, the VALR exchange has introduced futures trading for Bitcoin and USDT against ZAR, and PayCorp unveils CryptoExpress for streamlined crypto-to-cash conversions. On a slightly negative note, Binance delisted all South African Rand Trading Pairs citing low liquidity volumes.
Other noteworthy movements in the crypto space include various popular coins and tokens, such as Bitcoin, Ether, and USDC, reaching record highs in African currencies. The AI, Memecoin & Real World Asset cryptocurrencies, including PEPE, WIF, ENA, and TAO, launch on Altify, offering an option to invest with ZAR. Encouragingly,
South African Exchange, Luno, listed the USDC as its First Stablecoin.
ZAR Coin News Analytics from Tue, 29 Apr 2014 07:00:00 GMT to Wed, 31 Jul 2024 07:00:00 GMT -
Rating 2
- Innovation 6
- Information 8
- Rumor 2
