South Africa has entered the digital-currency era with the launch of Zaru, the country’s first institutional-grade stablecoin pegged to the rand. The launch marks a major step in modernising the country’s financial ecosystem and linking the rand to global digital finance networks.
Zaru (ZAR Universal) is a digital currency designed to maintain a 1:1 value with the South African rand, combining blockchain technology with fully-backed fiat reserves.
Each token is supported by high-quality rand-denominated assets, including cash, bank deposits, and government bonds, held locally and independently audited monthly by Moore Johannesburg. Standard Bank serves as the custodian for these reserves, ensuring transparency and stability.
The initiative is a collaboration between some of South Africa’s leading financial and fintech institutions: Luno, the cryptocurrency exchange; Sanlam Specialised Asset Management (Pty) Ltd; EasyEquities, the digital investment platform; and Lesaka Technologies, a global fintech group. Together, they developed Zaru to enable faster, cheaper, and more efficient transactions while maintaining strong ties to the regulated financial system.
At launch, Zaru is available exclusively to qualified institutional investors through Luno and EasyEquities trading desks. Plans for a broader retail rollout are expected once infrastructure and regulatory compliance are fully established.
