🇿🇦 Launch of the ZARc Stablecoin on the Stellar Platform
The Stellar Development Foundation has announced the launch of ZARc, a stablecoin backed by the South African rand, integrating one of Africa's largest economies on the blockchain platform.
Its importance: Sub-Saharan African countries processed $60 billion in remittances in 2024, but fees often reach 8% per transaction. At the same time, 43% of cryptocurrency transaction volume in Africa already comes from stablecoins, demonstrating a strong demand for faster and cheaper rail services.
ZARc is built natively on the Stellar platform, offering settlement within 3-5 seconds and near-zero fees. It could represent a bridge for cross-border remittances, payments for small and medium-sized enterprises, and local trade, benefiting from Africa's rapidly growing digital economy. Globally, stablecoins represent a market valued at over $255 billion, and Africa is one of the fastest adopters of them.
This is not just another stablecoin, but a targeted solution for one of the most expensive payment corridors in the world, solidifying Stellar's position as a key player in the future of financial inclusion.
What do you think? Could ZARc become the backbone of blockchain payments in Africa?