⇗ ZAR Stablecoin Gains Traction Amid Expanding South African Crypto Market
Stablecoin platform Zar recently boosted its market presence by securing $7 million in a round led by significant players – Dragonfly Capital,...
In recent developments, the former CEO of SadaPay is set to launch a new stablecoin platform named Zar. Stablecoin company Zar has raised $7 million in a funding round led by Dragonfly Capital, Andreessen Horowitz, and VanEck Ventures. The South African Rand (ZAR) has seen an increase in commercial applications with Bitget enabling rand deposits and withdrawals via Callpay. Furthermore, South Africa's famed Krugerrands Collection is set to be tokenized, potentially offering yet another stable avenue for investors in the region.
In parallel, African crypto adoption is growing beyond just Bitcoin, with South African crypto exchange, VALR, making waves by securing $50 million which is the largest crypto raise in Africa. Similarly, Binance has also added support for the South African rand (ZAR) function as a fiat gateway.
Meanwhile, South African web3 company has fractionalized rare ZAR proof coins into NFTs, and Bitget, a top 5 global crypto exchange, has integrated with South African Fintech, CallPay. The broader adoption and democratization of digital assets may well be driving forces behind the wider acceptance of the local Rand (ZAR).
ZAR Coin News Analytics from Sun, 02 Sep 2012 07:00:00 GMT to Wed, 07 May 2025 08:26:53 GMT - Rating 5 - Innovation 7 - Information 8 - Rumor 6
