South African startup, Neonomad, will be launching
rand-backed stablecoin which will be pegged to the South African Rand (ZAR) with the name
ZAR Coin. This news and similar news releases mark a significant development in the crypto space specifically the niche of
stablecoins.
OKX, a notable global crypto exchange is suspending its
ZAR Deposit Service.
Kaspa and several other cryptocurrencies anticipate a potential price rally. Similarly,
Bitcoin is seeing record highs in African currency as it approaches all-time highs globally. Numerous
new cryptocurrencies like PEPE, WIF, ENA, and TAO are being introduced on
Altify that can be acquired with
ZAR.
AltCoinTrader received Category 1 and 2 licenses, indicating improving regulation in the crypto ecosystem. However, the South African Rand has had some instability in the past, facing issues like softening against international currencies and falls in strength after producer inflation data. Expected to help provide
deep liquidity to emerging capital markets, Old Mutual Wealth is reportedly supporting
Rand ZARP Stablecoin. Though Binance reportedly delisted all
South African Rand (ZAR) pairs due to low liquidity volumes, it enabled instant deposits for ZAR. Another significant development is the
ZARP, another variant of rand stablecoin, goes live on the
OVEX Exchange. Consequently, the crypto ecosystem in South Africa, particularly with the introduction of rand-based stable coins, is witnessing remarkable evolution and growth despite the occasional economic upheavals.
ZAR Coin News Analytics from Tue, 29 Apr 2014 07:00:00 GMT to Tue, 22 Oct 2024 07:00:00 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor -3
