South African startup NeoNomad has launched Africa’s first hybrid exchange platform, an innovative web application aimed at addressing the pressing issues of financial inclusion, high transaction costs, and limited banking accessibility across the continent. The NeoNomad app offers a South African stablecoin called ZARcoin (ZARC), which is pegged 1:1 to the South African rand, and facilitates seamless digital transactions locally and – soon – internationally, integrating cryptocurrency and real currency with enhanced reliability and equity. Held in reserves by South Africa-based ZARC (PTY) LTD, ZARC ensures security, verifiability, and transparency through simplified audits. “We want to empower people to make informed decisions about their investing,” said Hanres Beukes, CEO of NeoNomad. Users can make crypto payments using their holdings for point-of-sale transactions via QR code scanning.

Source: The North Africa Journal August 07, 2024 09:25 UTC