We are excited to launch ZAR Supercoin – purpose-built for South Africa and the wider African market.
Our Supercoin will operate under a new division of Super Group, called Super Money SA. Super Money will act in the Blockchain space by introducing the Supercoin and a new Supercoin Wallet to provide utility to the population in South Africa and the rest of the continent.
Supercoin will eventually provide payment options for customers using Super Group’s sportsbook brand Betway, improving efficiencies. Customers will also benefit from exciting initiatives exclusive to Supercoin users.
By introducing the ZAR Supercoin, Super Money will be tapping into a market that demands frictionless currency exchange and global interoperability. With Africa’s stablecoin volumes already estimated to be around $100 billion across key markets, there is incredible opportunity to integrate convenient, crypto-fueled payment solutions.
Our Chief Financial Officer of Super Group, Alinda van Wyk commented: “The time is right for Super Group to move into the digital currency space, with our exciting new Supercoin. We have always been at the forefront of tech advancement in the gambling industry, and this offering will also benefit the millions of customers who enjoy our brands in South Africa and in the rest of the continent.”
“The launch of Supercoin will position us for continued success, as alternative payment methods and digital asset frameworks become more integrated into the regulated gaming ecosystem. This also underscores our commitment to innovation and the use of advanced technology to position Super Group for sustained growth.”
Supercoin will be listed on Luno and made available to customers in South Africa. Luno is a leading regulated cryptocurrency exchange with operations in Nigeria, Kenya, Malaysia, and Indonesia. As Supercoin gains traction, it will be listed on additional international exchanges.
Custody of ZAR Supercoin fiat currency backing reserves will be held by tier 1 South African bank, ABSA Group Ltd.
ZAR Supercoin will be deployed on the Solana blockchain using the Fireblocks Tokenization Engine to mint, burn and manage the entire smart contract lifecycle. ZAR Supercoin will use Fireblocks’ wallet infrastructure for the secure custody and storage of the stablecoin.
Chainalysis will also provide compliance solutions for ZAR Supercoin, particularly Chainalysis Sentinel, a token ecosystem monitoring solution. With Chainalysis Sentinel, Super Money SA will be able to establish robust risk policies, continuously monitor primary and secondary market transactions, identify and assess risk trends over time, and take proactive measures to ensure a safe and compliant environment for ZAR Supercoin users.
To find out more and get started, visit www.supercoin.co.za.