A South African NFT Marketplace Officially Launches After Trial Phase Nets Ov...
A South African non-fungible token (NFT) marketplace, Momint has officially launched following the end of the two-week trial phase which saw the artwork of former rugby player Bryan Habana fetch over $10,000. More than 800 people from 25 countries took part in the auction. The Momint marketplace, which has been developed as a social media app similar to Instagram, is backed by investor Rob Hersov and has a “pre-seed funding reportedly valuing the company at over $2 million.” According to a report, Momint combines an NFT marketplace with the functionality of a social media....
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Hlengani Mathebula of the South African Reserve Bank warns people for the dangers of using and trading Bitcoin. The story of Bitcoin's regulation continues. Today's turn goes to beautiful country South Africa. The government had been talking about Bitcoin for some time now. They even ran a 'Bitcoin trial'. In terms of willingness to accept, we love the idea of a trial. It beats saying no from the start without even considering. Internal testing. The South African Reserve Bank is responsible for considering Bitcoin's regulation. After reviewing the results of the Bitcoin trial, they decided....
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....
Pick n Pay, the South African retailer, has revealed that some of its grocery stores are now accepting bitcoin payments. To ensure payments are affordable, Pick n Pay reportedly uses the Bitcoin Lightning Network which is said to be suitable for “high volume, low-value transactions.”
2017 Trial Served as Proof of Concept
The South African grocery retail giant, Pick n Pay, announced on Nov.1, 2022, that some of its stores — about 39 — are now accepting bitcoin (BTC) payments. The retailer also said it plans to enable crypto payments in all its stores....
Blockchain technology proponents are staking claims in Africa, paying special attention to banks. Six African banking institutions are making sure financial tech doesn’t disrupt their businesses by working together to connect their systems with distributed ledgers. Absa & Barclays Africa Testing Multiple Platforms Across the South African Region. One....
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....