South African Rand displays strength after producer inflation data release. Technology company
Neonomad is planning for the launch of a Rand-backed stablecoin, while ZAR Deposit Service has been suspended for reasons unknown. Following the launch of a
South African Rand Stablecoin, major crypto exchange OKX has exited the Nigerian market. Meanwhile, crypto trading platform VALR launches EURO Coin (EURC) Trading and Euro Deposits, Despite
global market tension and local inflation data, the Rand has remained relatively stable. Digital currency Iron Fish and QUBIC show variability in their live price charts and market cap performance. Amid political turmoil, the South African Rand has become a currency of interest to investors. While the currency market shows considerable fluctuation, Binance has enabled instant deposits for the Rand, suggesting greater market involvement. South Africa's Old Mutual Wealth expressed interest in providing deep liquidity to emerging capital markets for the Rand ZARP Stablecoin. Digital assets continue to surge into the mainstream with the growth of blockchain technology, whilst the first Rand Stablecoin, ZARP, has commenced live trading on the OVEX Exchange in South Africa. Also, South African NFT Platform, Momint, has converted $1.2 million 1800s Krugerrands Gold Coins into Fractionalized NFTs.
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