Tech

South African startup NeoNomad launches new hybrid stablecoin exchange platform

Published

4 months ago

August 7, 2024

South African bitcoin startup, NeoNomad, has announced the launching of Africa’s first hybrid stablecoin exchange platform aimed at addressing the pressing issues of financial inclusion, high transaction costs, and limited banking accessibility across the continent.

CEO of NeoNomad, Hanres Beukes, who made the announcement in a statement, said the new platform is an innovative web application called ZARcoin (ZARC), which is pegged 1:1 to the South African rand, and facilitates seamless digital transactions locally and – soon – internationally, integrating cryptocurrency and real currency with enhanced reliability and equity.

“We want to empower people to make informed decisions about their investing,” said Beukes.

“With our hybrid exchange and web application, we’re creating a growing financial ecosystem that overcomes challenges like infrastructure and transport to help people take ownership of their finances and encourage economic participation.

“Held in reserves by South Africa-based ZARC (PTY) LTD, ZARC ensures security, verifiability, and transparency through simplified audits.

“ZARC provides liquidity and competitive rates, fostering a robust and resilient ecosystem. Following AML, CFT, KYC, and privacy regulations, ZARC guarantees a compliant and trustworthy environment.”

He added that the web app is engineered for instant, cost-effective transactions using Solana Pay, offering secure, decentralised e-banking services.

“Users can make crypto payments using their holdings for point-of-sale transactions via QR code scanning. This integration seamlessly incorporates existing point-of-sale (POS) systems, enabling transactions with near-zero fees.”

Related Topics:BITCOIN Featured NeoNomad Tech ZARC

Click to comment

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

23 hours ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

Tech

Orange Egypt earmarks $52.7m to support African startups

Published

2 days ago

November 19, 2024

Isaac Dachen

Orange Egypt has earmarked the sum of $52.7 million to support African startups in what is going to be the largest investment to drive a youth-focused tech revolution.

According to the company, the mammoth investment will see over 40 startups benefitting from the funds, with most of them being Egyptian companies.

‘It’s a boost for Egypt’s growing entrepreneurial ecosystem and a step closer to cementing its spot as a top startup hub in Africa,” the company said in a statement.

The investment is coming on the heels of the telco signing a deal with the Egyptian government to roll out the second phase of its 5G licensing.

The statement noted that with Egypt’s startup game already strong and ranking as the third most funded country in the MENA region, “the numbers speak for themselves.”

“In 2022, Egyptian startups closed 143 funding deals worth nearly $766.7 million, outpacing the $606.79 million raised the year before.

“Plus over 2,100 startups employing more than 50,000 people, the country’s ecosystem is one of the top 10 emerging startup hubs globally.

“The Egyptian government is all in on this. And since launching initiatives like Egypt Ventures in 2017, they’ve been backing startups to drive innovation and growth in the tech space.

“Orange Egypt’s latest move only adds fuel to this already blazing fire, paving the way for more opportunities and a stronger startup culture across Africa,” it added.