South African E-Commerce Giant Takealot Launches Bitcoin Support
Takealot, one of South Africa's largest e-commerce companies, has announced that it is now leveraging online payment processor PayFast's service to accept bitcoin payments. Launched in 2011, Takealot is a prominent company in South Africa's growing e-commerce space, having ranked fourth in a July poll conducted by South African online marketing firm research Columinate. Further, Takealot has raised $100m in funding to date to expand its operations. The company revealed the move to the bitcoin community on Twitter, citing customer feedback in its decision to implement digital currency....
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South African online marketplace Bidorbuy has added bitcoin as a payment option. With the announcement, Bidorbuy, which uses the same business model as e-commerce giant eBay, now allows sellers to enable bitcoin as a payment method for buyers on the e-commerce website, using processing services provided by Singapore-based bitcoin service BitX. Founded in 1999, Bidorbuy is one of the largest South African e-commerce websites attracting some 1.1 million unique monthly viewers and facilitating 80,000 sales monthly. In statements, Bidorbuy CEO Jaco Jonker emphasized that the decision was a way....
The South African financial services giant, Nedbank, is reported to have acquired a village in the metaverse. The village will be used to showcase African creativity and to create experiences that “go beyond banking.” By securing a virtual property in Ubuntuland, Nedbank became one of the first financial institutions in Africa to embrace the metaverse.
Showcasing Africa’s Creativity
Nedbank, the South African financial services group, recently secured a “village” in the Ubuntuland metaverse which reportedly measures 12 by 12. By securing the....
A group of South African banks have pushed ahead with plans to test blockchain applications in a partnership that has drawn support from key regulators in the country. As reported by local outlets IT Web and MoneyWeb, the project included teams from Standard Chartered, Absa, Rand Merchant Bank, Investec and Nedbank. Supporters of the initiative included the Financial Services Board, a major finance regulator; Strate, the country’s central securities depository; and the South African Reserve Bank. The institutions involved developed and tested a system for issuing syndicated loans via....
A South African tax expert, Thomas Lobban, has warned non-tax paying crypto traders that they now face possible jail time if the South African Revenue Services (SARS) decides to lay tax offense charges against them. He adds that this threat of jail time similarly applies to South African crypto traders that use offshore exchange platforms to trade or store their crypto assets. Lack of Guidance Blamed Lobban’s warning follows reports earlier in the year which suggested that changes to South African tax laws may have made it “easier for SARS to secure criminal convictions for....
The South African company behind the so-called “crypto water token” is reported to have secured an investment of $150 million from a Bahamas-based digital asset management company, GEM Digital. Initially available on decentralized exchanges only, the H2ON token was recently listed on the crypto exchange platform Bitmart. The Water Network A South Africa-based water infrastructure firm, H2O Securities, is reported to have launched what has been described as the “world-first crypto water token.” According to the firm, the token is expected to provide access to....