The integration of cryptocurrencies into South Africa’s financial ecosystem is rapidly accelerating, marked by a significant new partnership: Discovery Bank has announced a deal with crypto platform Luno to allow its customers to trade digital assets directly online. Read: Valve unveils Steam Frame, a wireless standalone VR headset This move is the latest indication that…
Discovery Bank CEO Hylton Kallner Discovery Bank’s Thursday announcement of a deal with cryptocurrency platform Luno, which will allow the former’s customers to trade cryptocurrencies online, is yet another sign that cryptocurrencies are becoming mainstream in South Africa. The move follows another deal announced in October between Scan to Pay and MoneyBadger that allows users…
Hylton Kallner, CEO of Discovery Bank. Discovery Bank today unveiled new offerings, including the integration of crypto-currencies into the digital bank’s mobile app. Under a partnership with Luno, Discovery Bank will add crypto trading in over 50 crypto assets from December. Hylton Kallner, CEO of Discovery Bank, says: “The financial world is evolving fast, and…
Virtual assets, commonly referred to as crypto assets or digital currencies, are reshaping the global financial landscape. In Africa, where financial inclusion remains a pressing challenge, the rise of virtual assets presents both opportunities and regulatory dilemmas. This article provides a comparative overview of the regulatory frameworks governing virtual assets across East, West and Southern…
Cryptocurrencies are moving beyond being seen as an investment asset as users find real-world uses in everyday contexts. It appears crypto is becoming more like cash – with users prepared to use it more at the point of sale. Crypto payments specialist MoneyBadger is hoping to profit from this trend, recently signing a deal with…
Bitcoin is attracting investor interest, even as it comes off a record high. VALR, a Johannesburg-based crypto-currency exchange, has been approved for two additional financial licences, in what is seen as a positive development in South Africa’s regulatory framework for digital assets. The approvals enable VALR to offer a mix of investments that extends beyond…
Binance Pay hosted a treasure hunt event at the V&A Waterfront in Cape Town. Through its integration with Zapper, Binance Pay says it is opening new avenues for South Africans to use crypto-currencies to shop and pay. It showcased the possibilities during a treasure hunt hosted at the V&A Waterfront in Cape Town recently. The…
SARS expects crypto-assets to be treated with the same level of diligence as traditional financial instruments. The South African Revenue Service (SARS) this week published draft regulations for the Crypto-Asset Reporting Framework (CARF) and is inviting the public to comment. This marks an important step in bringing South Africa in line with global standards on…
Tyler Winklevoss and Cameron Winklevoss (L-R), creators of crypto exchange Gemini Trust Co., on stage at the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mana Convention Center in Wynwood in Miami, Florida, on June 4, 2021. Joe Raedle | Getty Images Gemini Space Station, the crypto company founded by Cameron and Tyler Winklevoss, priced its…
Rapid changes in the payments landscape across Africa are challenging traditional banks, which are being forced to adapt quickly to new modes of facilitating transactions such as mobile money and cryptocurrencies. This is according to the Standard Bank Corporate and Investment Banking (CIB) Payments in Africa white paper released last week, which found that increased…
