Neonomad Launches Rand-Backed Stablecoin in South Africa
South African fintech startup Neonomad is launching Zarcoin (ZARC), a stablecoin backed by the South African Rand.
Zarcoin aims to bridge traditional and crypto finance, enabling seamless local and cross-border transactions, particularly for both banked and unbanked South Africans. Utilizing Solana Pay, Zarcoin promises instant, low-cost transactions. Neonomad’s CEO, Hanres Beukes, sees Zarcoin as a means to empower users financially and drive economic participation.
COO Devon Krantz adds that Zarcoin and the Neonomad app will offer various services, including decentralized finance solutions. The company also plans to promote crypto adoption through an educational program and a coworking space in Cape Town by late 2024.
Clever Robot News Desk 25th July 2024
