Super Group launches ZAR Supercoin for African market
The digital currency is specifically designed for South Africa and the broader African market, which the group serves with its iGaming and sports betting offerings.
South Africa.- Betway Africa operator Super Group has entered the digital currency arena with the launch of ZAR Supercoin, a stablecoin pegged 1:1 to the South African rand. The Supercoin was unveiled on November 12, through the company’s newly licensed South African division, Super Money.
The digital currency is specifically designed for South Africa and the broader African market, which the group serves with its igaming and sports betting offerings. According to Super Group, the ZAR stablecoin will lower the costs associated with traditional bank payments.
The group also confirmed plans to integrate the Super Money wallet into the Betway app, allowing users to have access to payment options through Supercoin and benefit from exclusive offers for ZAR transactions. The company noted that its move taps into the growing demand for seamless currency exchange and global interoperability, particularly in Africa, where stablecoin volumes are estimated to reach around $100bn in key markets.
The Supercoin will debut on Luno, a South African cryptocurrency exchange, with future plans for listings on other international exchanges.
Alinda van Wyk, Super Group CFO, said: “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 technological advancement in the gambling industry, and this offering will also benefit the millions of customers who enjoy our brands in South Africa and the rest of the continent.”
