Fintech
Cape Town Fintech Launches Crypto-Rand Hybrid
July 18, 2024
Written by FinTech Alliance in Financial Technology
South African fintech NeoNomad has launched ZARcoin (ZARC), a stablecoin pegged to the South African rand, via a hybrid exchange.
Launched to address financial exclusion, the platform uses Solana Pay for instant, low-cost transactions. NeoNomad aims to integrate traditional and crypto finance, benefiting both banked and unbanked populations. The initiative includes educational programs to improve understanding and trust in cryptocurrency, seeking to expand financial access and encourage economic participation in South Africa.