ZARP – The first ever Rand stablecoin
ZARP, a stablecoin that is pegged to the price of the South African Rand, is now available on the OVEX exchange.
ZARP was created by Simon Dingle and Kenny Inggs, and is the only Rand stablecoin with full cash reserves and independent attestation from accredited auditors.
This stablecoin is audited by the Kempen Group, which regularly attests the token supply and the cash held in ZARP’s treasury account.
Additionally, ZARP runs on a smart contract that has been audited by the Solidity Finance team in terms of its application and security.
“We went looking for a Rand stablecoin to use in our projects and were surprised to find that none existed, so we started one ourselves,” said Dingle.
“A true stablecoin is backed by hard currency and is independently audited so that users can trust that it won’t lose its peg or that the owners can just mint as much of it as they like.”
ZARP is built on the Ethereum blockchain and there are plans to launch it on other networks, with these networks being voted for by its community of users.
“As tokenisation revolutionises the global financial system, stablecoins play a vital role in representing fiat currencies in the new world of DeFi,” said Dingle.
“We’ve made one that is safe, trusted, and aligns with emerging regulation.”
Get ZARP on OVEX
OVEX is the first centralised exchange to list ZARP, proving once again that the popular cryptocurrency platform is at the forefront of the South African industry.
You can easily buy ZARP through OVEX’s Buy & Sell service, which automatically generates quotes that you can immediately choose to accept.
OVEX also offers an Over the Counter desk that provides added benefits to organisations and high net worth individuals, such as post-trade settlement, margin services, and a 24/7 communication line.
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