South Africa reiterates crypto and stablecoin risks amid rising use

SARB said the absence of a complete regulatory framework for crypto assets and stablecoins remains a key vulnerability in South Africa’s financial system.
Stablecoin — coverage and analysis.

SARB said the absence of a complete regulatory framework for crypto assets and stablecoins remains a key vulnerability in South Africa’s financial system.

ADAPT, built in partnership with IOTA and the Tony Blair Institute for Global Change, will allow users to settle trades in local currencies and stablecoins.

Plus: 🌍 Here’s why Flutterwave is enabling stablecoin payments via Polygon

Olugbenga Agboola said rising demand from clients and suppliers already using stablecoins pushed Flutterwave to build payment flows that match how people are transacting today.

Dubbed the ZAR Supercoin, the stablecoin designed and developed by New York-listed Super Group, is backed by cash reserves in Absa bank.

Plus: 🇿🇦 USD stablecoins can undermine African monetary sovereignty — SARB Governor

Yellow Card told Mariblock that the decision was driven by strong, growing demand for stablecoin-fiat payment services.

Lesetja Kganyago says he is unconvinced by the supposed stability of USD-pegged stablecoins and believes their backing can be called into question

Plus: 🇳🇬 Nigerians prefer crypto investments and gambling to the capital market — SEC DG

While the full rollout is scheduled for 2026, a pilot program of the product feature is expected to run its course before the end of the year.

Ayotunde Alabi highlights how adopting stablecoins and tokenized assets can help Africa build a modern financial system that drives trade and economic growth.

Despite these impressive figures, there is a huge policy vacuum sitting between potential and scale.

The network also wants its system to be compatible with more modern digital finance rails such as stablecoins

Circle joins the Swiss-based venture capital firm to invest in early-stage African blockchain companies over a period of ten years from 2022.

The discussion featured representatives from traditional investment platform Risevest alongside cNGN’s technical team.

Ripple described Africa as a “natural next step” for RLUSD, citing increasing demand among businesses worldwide.

The two companies have already partnered on crypto card solutions with Bybit and S1LKPAY, which use USDC to settle transactions.

According to the study, stablecoins accounted for 43% of total crypto transaction volume in sub-Saharan Africa in 2024.