iGaming and sports betting giant Super Group revealed in November 2025 that it intends to issue a stablecoin called ZAR Supercoin (ZARSC) in South Africa. A soft beta was released in mid-April for Betway South Africa users, and by the time the Q1 earnings call arrived on 12 May, CEO Neal Menashe was articulating why this is such a significant move for the company’s profitability.
“In Africa, these processing fees represent our single biggest after-tax expense,” Menashe explained to shareholders. “Putting money in, taking money out, putting money in again – doing this in and out of the same money costs a lot.”
And the costs really pile up. The whole of Africa is driving Super Group’s business. The group achieved $2.2 billion in revenue for the year, up $396.8 million year-on-year, mainly based on a 27% GGR increase across the continent. South Africa alone accounts for 30% to 39% of total group revenue, making it the group’s single largest market globally.
ZARSC is part of Super Group’s new unit, Super Money SA. It is based on the Solana blockchain, is listed on crypto exchange Luno, and has ABSA Bank holding the rand-backed reserves at a 1-1 ratio. Chainalysis takes care of compliance.
Meanwhile, crypto adoption among African bettors is already widespread even without official involvement. Wendy Rosenberg of Werksmans Attorneys in Johannesburg notes that it is often the case that bettors use crypto not only out of choice but also as a last resort when their card payments fail on both licensed and offshore casinos.
In 2022, South Africa’s Financial Sector Conduct Authority did acknowledge crypto as a financial product and has been licensing crypto asset service providers since 2023. It is a good initial step even though the experts still reckon that the regulatory framework has several loopholes that have to be addressed for the market to open up fully.
Further to South Africa, the users in Nigeria, Kenya, Ghana and Uganda are already relying on crypto to bypass banking restrictions and cross-border fees. Ghana adopted its Virtual Asset Service Providers legislation in December 2025, which is expected to have a big impact on its betting market. West Africa is currently considered by the experts as the region where the next big wave of crypto gambling is most likely to break.
At the same time, Super Group is not rushing. Menashe stated that the group will see how the South Africa pilot unfolds before expanding into its other seven African markets. Committed but clearly watching very closely.
Editor-in-chief and creator Cole Smith of casinocurrencies.com, has extensive experience with casino payment systems, The site was created to provide an honest and trustworthy resource for online gambling players.