Wallettec Brings Bitcoin Point-of-Sale Solution to South Africa
South African payments provider Wallettec has partnered with BitPay to integrate bitcoin with its point-of-sale (POS) payment platform. The company worked with South African BitPay affiliate Bitcoin Payments to allow merchants using its platform to accept bitcoin payments via in-store POS devices. The new partnership is an important step forward in bringing bitcoin to brick-and-mortar retailers in South Africa. Wallettec's founder Johan Meyer told CoinDesk that "this is the first time anybody has integrated bitcoin point-of-sale and allowed merchants to accept bitcoin payments from almost....
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South African venture capitalist, Michael Jordaan, recently suggested that a single decentralized cryptocurrency may be the solution that brings great benefits to inter-regional trade and investment in Africa. According to Jordaan, who is also the former CEO of one of South Africa’s leading banks, FNB, such a single African currency “would go a long way to make borders matter less.” A Decentralized Currency for Africa However, in his tweet on April 27, Jordaan offers his take on why he sees crypto (and not fiat) as the solution that unlocks the “most....
The premium or arbitrage gap on bitcoin in South Africa recently turned negative following the offloading of coins worth over $75 million by liquidators of MTI. As a result of the temporary supply glut, buying bitcoins on local South African exchanges briefly became cheaper than buying on overseas exchanges. The Impact of the MTI Liquidators’ BTC Sales However, following the conclusion of the liquidators’ sale nearly two weeks ago, the arbitrage gap has now turned positive. As one South African media report notes, the premium of BTC has now recovered and was hovering between....
Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country.
Binance Ceases Some Services in South Africa
Cryptocurrency exchange Binance announced Friday some changes to its offerings in South Africa. Noting that it “constantly evaluates its product and service offerings to comply with local regulations,” Binance said it will....
Bitcoin ATMs (Automated Teller Machines) have been popping up all over the world. Hong Kong, Australia, Dubai, and America, among other places, have operating Bitcoin ATMs. These ATMs have only become widespread in the past few months and are a very new and incomplete technology. Now, they're coming to Africa. Coming to Africa. [dropcap size="small"]Bitcoin's first ATM in the vast continent of Africa is expected to be opened to the public in late May. The ATM will be owned by ZABitcoinATM. The first ATM will come to Johannesburg, South Africa. A second one, which will come a month after....
The South African financial regulator has published a draft declaration of crypto assets as financial products. The regulator says South Africa has experienced “an exponential increase in the provision and use of crypto assets.” South Africa’s Crypto Regulation South Africa’s Financial Sector Conduct Authority (FSCA) announced Friday that it has published “a draft declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act [FAIS].” Comments on the draft declaration can be submitted until Jan. 28, 2021.....