South Africa’s biggest regulated crypto platforms have taken their fight public, forming a coalition and launching a petition against draft rules that would bar local companies from making cross-border payments in crypto assets. The coalition has given itself the pointed acronym Catastrophe — Crypto Asset Taskforce for Advancing Sound, Technology-Neutral Regulation for Opportunity, Prosperity and…
Tether remains the dominant stablecoin in South Africa. (Image created by GenAI) Authorised financial services provider BlockTower’s rand-backed stablecoin ZARU has been listed on Luno Global, in what it says is the first institutional-grade rand stablecoin on a regulated crypto exchange. The listing gives the rand an on-chain secondary market on Luno’s exchange. ZARU, which…
Luno, the cryptocurrency exchange that started in South Africa and is now owned by US-based Digital Currency Group, is cutting 20% of its global headcount and reorganising the business into three separate units, CEO James Lanigan said on Tuesday. The company did not disclose how many employees are affected. The job cuts were first reported…
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…
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…
