Super Money SA has launched ZAR Supercoin, a new stablecoin for South Africa and the wider African market.
Licensed by the Financial Sector Conduct Authority (FSCA) and backed by rand reserves held in segregated accounts at Absa Group, ZAR Supercoin allows users to hold, send and redeem digital rands.
Each ZAR Supercoin is redeemable 1:1 for the South African rand through approved channels.
Super Money SA is an independent regulated South African company within Super Group (SGHC), which is listed on the New York Stock Exchange.
Warren Ross, MD of Super Money SA, says: “ZAR Supercoin is designed to bring the power of digital money and blockchain into everyday South African life. Whether you’re paying for groceries, sending money to family, or running a small business, it’s fast, secure, and always backed by the rand. We’re making stablecoins simple, useful, and accessible, because we believe financial freedom should be for everyone.”
ZAR Supercoin will initially be tradeable on Luno. Upon the launch of the digital wallet, will be accepted by a growing network of merchants and fintech partners for payments, remittances, and top-ups. Additional exchange listings are planned as adoption grows.
ZAR Supercoin will be deployed on the Solana blockchain, using the Fireblocks Tokenization Engine to mint, burn, and manage the entire smart contract lifecycle, with Fireblocks wallet infrastructure ensuring secure custody and storage of the stablecoin.
Chainalysis Sentinel will monitor the ZAR Supercoin ecosystem for compliance, helping Super Money SA maintain robust risk policies and a safe environment for users.