South African startup Neonomad has announced the launch of a
Rand-backed stablecoin, a first for the continent. This move is among multiple initiatives displaying increasing
cryptocurrency adoption in South Africa. The launch coincides with the
suspension of ZAR Deposit Service and the introduction of Euro Coin (EURC) trading. Meanwhile, Bitcoin continues to hit record highs in African currencies, sparking both celebration and concern.
ZAR Coin can now be used to invest in AI, Memecoin, and Real World Asset cryptocurrencies on Altify. Despite the strides in cryptocurrency, the
South African rand has experienced instability amid global market focus on Middle East tensions. The Rand has also cooled after strong gains in a data-filled week and weakened ahead of local inflation data. As these developments continue, Binance has delisted all South African Rand (ZAR) trading pairs due to low liquidity volumes. In addition,
NFT marketplace Momint has tokenised R18m in Krugerrands while the South African Exchange, Xago, partnered with Nigerian-based Exchange, BitMama, to deliver Digital ZAR across Africa.
Elon Musk has shown support for Dogecoin, and altcoin investors can now withdraw crypto as cash at ATMs across South Africa.
ZAR Coin News Analytics from Sun, 02 Sep 2012 07:00:00 GMT to Tue, 19 Nov 2024 09:29:18 GMT -
Rating -4
- Innovation 3
- Information 7
- Rumor -5
