NeoNomad, a South African DeFi Startup, recently launched the
ZARCoin, a stablecoin pegged to the South African Rand (ZAR). Major global crypto exchange
Binance has delisted ZAR trading pairs due to 'low liquidity volumes'. However, South African exchanges such as
VALR and
AltCoinTrader are harboring significant growth, with VALR having launched BTC and USDT futures trading against the ZAR, and AltCoinTrader receiving regulatory approval from FCSA. Real-world assets are also being integrated into the crypto market such as South Africa’s Old Mutual Wealth providing liquidity for the ZAR stablecoin, ZARP. Cross-continental partnerships are allowing for innovative solutions, with South African exchange
Xago partnering with Nigeria-based BitMama to deliver digital ZAR across Africa. South Africa’s
CryptoExpress, introduced by fintech firm PayCorp, simplifies crypto-to-cash (ZAR) conversion. In the NFT sphere,
Momint has tokenised R18m in Krugerrands.
Bitcoin has also made waves in the country, with its price correlations with emerging markets, including ZAR, being observed. The volatile relationship between crypto adoption and ZAR's stability has also been a point of discussion.
ZAR Coin News Analytics from Tue, 29 Apr 2014 07:00:00 GMT to Thu, 15 Aug 2024 08:18:41 GMT -
Rating 6
- Innovation 8
- Information 7
- Rumor -6
