OVEX has launched its ZARP Interest Account, which offers investors an 11% annualised interest rate on South Africa’s first Rand stablecoin.
This is the highest interest rate of any OVEX Interest Account, and aligns with OVEX’s commitment to growing cryptocurrency investment in South Africa.
ZARP was created by Simon Dingle and Kenny Inggs and is built on the Ethereum blockchain.
“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,” explained Dingle.
Trust is key to the success of a cryptocurrency, and a successful stablecoin must therefore be independently audited to ensure it keeps its peg.
ZARP is audited by the Kempen Group accordingly, while the Solidity Finance team audits the stablecoin’s smart contract in terms of its application and security.
“As tokenisation revolutionises the global financial system, stablecoins play a vital role in representing fiat currencies in the new world of DeFi,” said Dingle.
ZARP Interest Account
The new ZARP Interest Account extends the company’s range of ZARP offerings, which means that more investors can find an opportunity to invest in ZARP that suits their needs.
OVEX’s ZARP Interest Account requires a minimum balance of 5,000 ZARP, which is equal to R5,000.
If you invest in an OVEX Interest Account, you will profit from an 11% annualised interest rate, and will have access to a withdrawal notice period of just 30 days.
The combination of a high interest rate and a low withdrawal notice period makes OVEX’s ZARP Interest Account an incredibly attractive opportunity for investors.