Super Group, the parent company of Betway and Spin, just dropped a major announcement that’s got the crypto world buzzing. They’re launching their own stablecoin called ZAR Supercoin, and they’re super focused on the African market with their first 100% African project.
This is not a crypto project that aims at exponential growth. The firm actually designed the digital currency with South Africa in mind as well as other African countries where digital payments are rapidly gaining popularity. To oversee this bold plan, Super Group has established a new division called Super Money SA, which will be their blockchain and financial tech arm.
The Super Group is not simply issuing a coin and waiting for the outcome. They are building a complete ecosystem around the coin and the wallet, including the Supercoin Wallet, which will be the African users’ means of trading and transactions in the easiest way. Hence, users will be allowed to use these coins for gambling on Betway and still get the benefit of receiving exclusive promotions and special offers for the Supercoin holders.
The numbers supporting this decision are quite impressive. Already, the stablecoin market in Africa is around $100 billion in volume across major markets, and Super Group is willing to be part of that game. To this, they are relying on the continent’s craze for easy-to-use payment methods that are borderless and do not come with banking hassle.
On the technical side, they are serious about it. When ZAR Supercoin debuts, it will be at Luno, a top-notch crypto exchange that is already popular in Nigeria, Kenya, Malaysia, and Indonesia. Also, they have selected Solana blockchain because of its speed and stability, it has a technical backbone partner, Fireblocks and ABSA Group, a big South African bank, is holding the real money that backs the stablecoin.
Alinda van Wyk, the company’s CFO, is convinced that they’ve chosen the right time to get on the digital currencies bandwagon. She names this Super Group’s move as a clear indication of their commitment to technology and as a way of staying ahead in the gaming industry with the usage of emerging technologies.
Actually, the moment is very much a part of the company’s larger strategy, as the news follows their most recent earnings announcement closely. With plans to expand to more exchanges down the road, Super Group is clearly betting that Africa’s digital finance revolution is just getting started, and they want to be leading the charge.
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.