NeoNomad, a South African startup, has unveiled a pioneering web application, Africa’s first hybrid exchange platform, designed to tackle the critical challenges of financial inclusion, elevated transaction costs, and limited access to banking services across the continent.
The innovative NeoNomad app introduces the ZARcoin (ZARC), a South African stablecoin that maintains a 1:1 value with the South African rand, enabling smooth digital transactions within South Africa and, in the near future, on a global scale. The platform is a fusion of cryptocurrency and fiat currency, aiming to provide a more reliable and equitable financial solution.
ZARC is securely held in reserves by the South African company ZARC (PTY) LTD, which ensures the coin’s security, verifiability, and transparency, facilitating straightforward audits. The stablecoin is designed to offer liquidity and competitive exchange rates, contributing to the development of a stable and resilient financial ecosystem. Adhering to Anti-Money Laundering (AML), Countering Financing of Terrorism (CFT), Know Your Customer (KYC), and privacy regulations, ZARC promises a compliant and secure platform for users.
Hanres Beukes, the CEO of NeoNomad, expressed the company’s mission to enable individuals to make educated investment decisions. “Our hybrid exchange and web application are at the forefront of cultivating a growing financial ecosystem that addresses common obstacles such as infrastructure and transportation, empowering people to take control of their finances and boost economic involvement,” Beukes stated.
The web application is built to support instant and cost-efficient transactions through Solana Pay, providing users with secure, decentralized electronic banking services. The platform allows for cryptocurrency payments at points of sale by scanning QR codes, integrating smoothly with existing POS systems and facilitating transactions with negligible fees.
