INTRODUCING | NYSE-Listed Owner of Betway Gambling Platform Issues First Bank-Backed ZAR Stablecoin

New York–listed Super Group, through its South African subsidiary, Super Money, has launched ZAR Supercoin, a digital rand stablecoin backed 1:1 with fiat reserves and redeemable instantly.

Super Group is widely known as the owner of the Betway online gambling platform.

According to Super Money SA Managing Director, Warren Ross, the goal of ZAR Supercoin is to reduce the high costs associated with traditional bank payments. Transactions made with Supercoin are free, unlike bank fees that can be R1 or more for small everyday purchases such as airtime, bus fares, or prepaid electricity.

Ross also noted that the Super Money wallet will eventually be integrated into the Betway app.

To meet regulatory requirements, users must complete full Know Your Customer (KYC) verification. All wallet transactions include a complete audit trail supported by blockchain technology. Super Money holds both Category I and Category II Crypto Asset Service Provider (CASP) licences from the Financial Sector Conduct Authority (FSCA), which require the company to identify both the sender and receiver of each transaction.

Super Group CEO, Neal Menashe, said the company is starting its crypto initiative in South Africa to address high payment processing fees while tapping into the growing appeal of digital assets. The launch of ZAR Supercoin is also intended to enhance the overall experience for Betway users.

At launch, ZAR Supercoin will be tradable on the Luno exchange, with plans to expand to additional trading platforms over time.

A Supercoin digital wallet will be introduced later, opening up use cases across a network of merchants and fintech partners for payments, airtime top-ups, and remittances. The wallet will also enable ATM cash withdrawals and purchases at retail point-of-sale terminals.

Business Model:

• Super Money will invest the Rand reserves backing the stablecoin in yield-generating instruments such as money market funds and treasuries, similar to other global stablecoin issuers.
• Additional revenue will come from value-added services as the broader Supercoin ecosystem grows.

Technology & Compliance:

• ZAR Supercoin is built on the Solana blockchain, using Fireblocks’ Tokenization Engine for minting, burning, and smart contract management.
• Fireblocks will also provide custody infrastructure, while Chainalysis Sentinel will supply continuous compliance and monitoring.

Ross said the stablecoin is designed to bring the benefits of digital money and blockchain into everyday life in South Africa – whether paying for groceries, sending money to family, or running a small business – with the assurance of fast, secure transactions fully backed by Rand reserves.

Super Money aims to position ZAR Supercoin as a regulated, reliable digital currency suitable for daily use by both ordinary users and small businesses, not just crypto-savvy consumers.

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