OVEX has launched its ZARP Interest Account, which offers investors an 11% annualised interest rate on South Africa\u2019s first Rand stablecoin.<\/p>\n
This is the highest interest rate of any OVEX Interest Account, and aligns with OVEX\u2019s commitment to growing cryptocurrency investment in South Africa.<\/p>\n
ZARP was created by Simon Dingle and Kenny Inggs and is built on the Ethereum blockchain.<\/p>\n
\u201cWe went looking for a Rand stablecoin to use in our projects and were surprised to find that none existed, so we started one ourselves,\u201d explained Dingle.<\/p>\n
Trust is key to the success of a cryptocurrency, and a successful stablecoin must therefore be independently audited to ensure it keeps its peg.<\/p>\n
ZARP is audited by the Kempen Group accordingly, while the Solidity Finance team audits the stablecoin\u2019s smart contract in terms of its application and security.<\/p>\n
\u201cAs tokenisation revolutionises the global financial system, stablecoins play a vital role in representing fiat currencies in the new world of DeFi,\u201d said Dingle.<\/p>\n
OVEX was the first centralised exchange to support ZARP for purchase or sale through its Request for Quote (RfQ)<\/strong><\/a> and Over the Counter (OTC)<\/strong><\/a> platforms.<\/p>\n The new ZARP Interest Account extends the company\u2019s range of ZARP offerings, which means that more investors can find an opportunity to invest in ZARP that suits their needs.<\/p>\n OVEX\u2019s ZARP Interest Account requires a minimum balance of 5,000 ZARP, which is equal to R5,000.<\/p>\n 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.<\/p>\n The combination of a high interest rate and a low withdrawal notice period makes OVEX\u2019s ZARP Interest Account an incredibly attractive opportunity for investors.<\/p>\n