The launch of the ZARU stablecoin, backed by heavyweights like Standard Bank and Sanlam, is designed to offer institutional-grade settlement speed while keeping capital onshore. Our analysis breaks down the consortium’s strategy to counter digital dollarization and the critical due diligence questions every treasurer needs to ask.
TL;DR, Luno introduces tokenized stocks in South Africa and Nigeria, allowing investors to access US equities through blockchain technology with lower barriers to entry. African investors can now purchase fractional shares of major US companies through Luno’s platform, bypassing traditional forex complications and high fees. The new tokenized stock feature offers 24/5 access, instant settlement,…
South Africa rejects exchange control exemption for SARB-led crypto framework after Judge Motha rules “cryptocurrency is not money.” Financial Regulators Steering Committee establishes CASP cross-border reporting closing 1961 Exchange Control loopholes. FICA subjects Luno, VALR, Binance to AML/CFT/CPF as Luno flags onshore/offshore gap hindering institutional adoption. Framework resolves “money” vs “capital” dichotomy within year
Crypto payments in South Africa reach $112K monthly as 80% of Luno Pay users transact weekly across 31,000 merchants. Stablecoin adoption drives $1.1M in transactions since November 2024 at Pick n Pay, Dis-Chem, FlySafair, and Spur. Christo de Wit confirms shift from speculation to utility: “Customers use Luno Pay regularly for routine purchases.” With stablecoins settling $27.6T globally (exceeding Visa + Mastercard), South Africa’s regulatory framework enables daily crypto spending for groceries, flights, services.
TL;DR, Among the first batch to receive South Africa’s crypto license include Luno, South Africa’s top crypto exchange, and Zignaly, a decentralized social investing platform. Zignaly obtained a Category 2Â discretionary FSP license listed on the FSCA registry under Merritt Administrators PTY LTD. Since June 2023, the FSCA has been accepting licensing applications, attracting over 230…
You must be logged in to post a comment.