South African startup NeoNomad introduces the
ZAR Coin, a Rand-backed stablecoin, to the
Africa Crypto market. ALTIFY and renowned currencies, such as Bitcoin and OkCoin, begin accepting the ZAR Coin. Celebrations ensue as Bitcoin sees growth, but concerns rise due to increasing stability between cryptocurrencies and the ZAR.
Binance has boosted trading in the Argentinian, Brazilian and South African currencies and aims to delist the South African Rand trading pair due to its high-level standard. However, Binance’s move contrasts with VALR, which launches BTC and
USDT Futures Trading against the ZAR. Simultaneously, the First Rand Stablecoin, ZARP, debuts on the OVEX Exchange in South Africa. Many other platforms have added offerings in the South African Rand, including
Crypto.com,
Luno, and Xago. SA Exchange Xago partners with Nigerian-based Bitmama to deliver Digital ZAR across Africa, suggesting an expansion of the ZAR footprint. The rise of the ZAR on digital platforms is primarily due to the burgeoning growth of blockchain technology in
mainstream digital assets. Despite strong momentum, the ZAR Coin faces challenges, including the devaluation of the South African Rand against critical economic indicators, the cryptocurrency’s current regulations, and the market conditions expressed by Bitcoin and Ethereum's fluctuating prices.
ZAR Coin News Analytics from Tue, 29 Apr 2014 07:00:00 GMT to Fri, 20 Sep 2024 08:21:33 GMT -
Rating 5
- Innovation 6
- Information 4
- Rumor 3
