Synthetic Financial Centre
read more >>Crypto asset policy.
The Intergovernmental Fintech Working Group conducted research to introduce Stablecoins in 2024. The Financial Intelligence Centre (FIC) and Financial Services Conduct Authority (FSCA) are working to improve enforcement of unlicensed providers. Government is considering requiring crypto assets transactions exceeding R49,999 be reported to the FIC.
read more >>Tokenisation (aka Blockchain)
Tokenisation could enhance access to funds, improve transparency and accountability, and increase foreign direct investment. Other African countries like Nigeria, Ghana and Kenya are exploring tokenisation for debt management, which is why South Africa is also evaluating the platform. The MTBPS only briefly addressed digital asset regulation, despite recent steps in licensing some crypto asset…
read more >>Supporting SMEs through payments innovation
Financial inclusion for SMEs through payments innovations in South Africa involves leveraging technology and new payment methods to provide these businesses with access to financial services that were previously inaccessible or difficult to obtain. This would help SMEs grow, manage their finances more efficiently and integrate more fully into the formal economy. The SME sector…
read more >>