CBDC
CBDCs are useful but are not an immediate priority — SARB
The bank sees no need to deploy a retail CBDC anytime soon, but it will explore wholesale options.
Dec 2, 2025
South Africa's emergence as Africa's most advanced crypto regulatory jurisdiction — from SARB authorizing banks to serve crypto clients through FSCA licensing 248 firms, SARS crypto tax enforcement, the stablecoin sovereignty debate and the FATF greylist exit.
South Africa's emergence as Africa's most advanced crypto regulatory jurisdiction — from SARB authorizing banks to serve crypto clients through FSCA licensing 248 firms, SARS crypto tax enforcement, the stablecoin sovereignty debate and the FATF greylist exit.
The bank sees no need to deploy a retail CBDC anytime soon, but it will explore wholesale options.
Adoption is on the rise, but with increased adoption comes financial stability risks that the bank is now looking to counteract.
SARB said the absence of a complete regulatory framework for crypto assets and stablecoins remains a key vulnerability in South Africa’s financial system.
Lesetja Kganyago says he is unconvinced by the supposed stability of USD-pegged stablecoins and believes their backing can be called into question
