stablecoin - eriinfo

Africa

Africa Tightens Ai and Data Regulations As Stablecoin Adoption Grows in Finance Sector

eriinfo.com1 week ago04 mins

Nairobi — As banks, financial institutions, telecommunications firms and payment service providers (PSPs) increasingly adopt stablecoins as core infrastructure for treasury management and cross-border payments, regulatory defensibility is emerging as a critical priority. A new report indicates that this shift is accelerating a broader transition in Africa’s digital economy–from basic data protection frameworks to active,…

Coinbase clears key regulatory hurdle in bid to bolster its stablecoin business

eriinfo.com4 weeks ago06 mins

Costfoto | Future Publishing | Getty Images Coinbase received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a trust bank, the company said Thursday. If finalized, the crypto exchange will be able to operate payment products in addition to its custody business under federal supervision, Coinbase chief…

Mastercard to acquire BVNK in stablecoin push

eriinfo.com1 month ago03 mins

Mastercard will buy stablecoin payments infrastructure firm BVNK for up to US$1.8-billion, as the card giant deepens its push into blockchain-based transfers. Increasing regulatory clarity and broader usage of stablecoins have created opportunities for card networks to expand beyond traditional cards into faster, lower-cost digital payment systems. Mastercard and rival Visa are competing to establish…

Africa leads the world in stablecoin adoption

eriinfo.com2 months ago08 mins

BVNK co-founder Chris Harmse The use cases for stablecoin adoption are stronger in Africa, where formal banking channels are weaker than in more developed markets. A new report from BVNK and YouGov has found that Africans are more likely to hold, use and want to be paid in stablecoins compared to people in other regions…

South Africa’s stablecoin silence is becoming a policy failure

eriinfo.com3 months ago010 mins

Imagine walking into your local store and paying with a cryptocurrency that always equals R1 – no wild swings, no speculation, just self‑sovereign certainty. A digital token that settles faster than today’s banking rails and at a fraction of the cost. That’s the promise of stablecoins – digital assets built for stability in a market…

Financial institutions launch Rand-backed stablecoin

eriinfo.com3 months ago06 mins

ZARU’s reserves are independently audited monthly, ensuring transparency and stability for institutional participants. (Image created using GenAI via ChatGPT) A consortium of South African financial and fintech firms has introduced ZAR Universal (ZARU), an institutional-grade stable coin pegged to the South African Rand. According to a statement, ZARU aims to modernise payments and financial infrastructure,…

Heavyweights backing ZARU, a new rand-based stablecoin

eriinfo.com3 months ago07 mins

A partnership between four South African financial institutions has led to the launch of an “institutional-grade” stablecoin pegged to the rand. Dubbed ZAR Universal, or ZARU, the stablecoin will made available to both retail consumers and institutional investors through the alliance between cryptocurrency platform Luno, low-cost trading platform EasyEquities, fintech Lesaka Technologies and Sanlam Specialist…

Africa

Africa: Nala and Noah Launch Stablecoin Settlement Network for Africa and Asia

eriinfo.com4 months ago04 mins

NALA has partnered with UK-based payments infrastructure provider Noah to launch a cross-border settlement network that allows merchants in Africa and Asia to receive US dollar payments and convert instantly into local currencies using stablecoins. The new network is integrated into NALA’s B2B payments platform, Rafiki, which launched in March 2024. It targets global companies…

ZAR Supercoin is South Africa’s latest rand stablecoin

eriinfo.com6 months ago04 mins

South Africa has a new rand-pegged stablecoin. Called ZAR Supercoin, the stablecoin is “purpose-built for South Africa and the wider African market”, according to its backer, New York-listed Super Group. ZAR Supercoin is the second rand-based stablecoin to be launched after ZARP, which was developed by Inves Capital. ZAR Supercoin’s backer is a company called…

Africa

Africa: Nigeria Leads Africa in Stablecoin Adoption With $22bn in Transactions

eriinfo.com8 months ago05 mins

Nigeria has emerged as the largest stablecoin market in Africa, with nearly $22 billion in transactions recorded between July 2023 and June 2024. This was stated in the latest report released by Yellow Card titled, ‘Stablecoin Adoption in Emerging Markets – The Report for Global Business Leaders’. The report which is Yellow Card’s third and…