Super Group Launches Rand Stablecoin For Low Cost Payments

Super Group, the New York-listed parent of Betway, has taken a fresh step into digital payments with the introduction of a South African rand-backed stablecoin. The token, called ZAR Supercoin, forms part of a broader plan to cut down transaction costs and use blockchain rails across Africa, where banking fees often eat into everyday spending.

Good to Know

• ZAR Supercoin is backed 1:1 with rand held by ABSA Group
• Token debuts on Luno and runs on the Solana blockchain
• Supercoin Wallet arrives next year with ATM and point-of-sale support

The company created a new local division, Super Money SA, to issue the token. According to the launch details, ZAR Supercoin will sit on the Solana network and use Fireblocks and Chainalysis for custody, tokenisation, and compliance controls. Early distribution begins on the Luno exchange, before the asset lands on more platforms through a phased approach.

A Payments Strategy Built Around Digital Tokens

Super Group said the stablecoin will be available as a payment option for Betway users from the start, feeding into a wider effort to bring digital assets into the group product line. Executives highlighted the fast-growing nature of stablecoin use across Africa, where the annual market is already estimated near one hundred billion dollars.

CEO Neal Menashe framed the move in clear terms, saying:

“This marks a significant and strategic step forward in the company’s approach to payments,. It is the first step in integrating digital assets into our product stack, and we expect it will lead to cost efficiencies over time.”

Wallet To Support Everyday Spending

A dedicated Supercoin Wallet is scheduled for the first quarter of next year. The wallet will support ATM withdrawals, point-of-sale purchases, remittances, and top-ups. Payments made with ZAR Supercoin will be free for users, compared with traditional bank charges that often exceed one rand even for small transfers.

CFO Alinda van Wyk said the company has long pushed new technology inside the gambling sector and views this as a natural next stage. She noted that regulatory discussions around alternative payments are shifting, which gives the project room to grow.

Licensing And Compliance Frameworks

Super Money SA holds Category I and II Crypto Asset Service Provider licences from the Financial Sector Conduct Authority. That means KYC processes, audit trails, and security requirements sit at the centre of the new service.

The company pointed to its NYSE listing as a structural advantage, saying the public-company environment brings “gold-standard” oversight to day-to-day operations.

Warren Ross, managing director of Super Money SA, described the goal simply. He said:

“ZAR Supercoin is designed to bring the power of digital money and blockchain into everyday South African life. Payments are free for Supercoin users.”

He also added:

“We’re making stablecoins simple, useful, and accessible because financial freedom should be for everyone.”

helpful for onboarding new users. “This creates trust, and people latch on to brands,” said Faadil Moti, CEO of 80eight. “The market is bigger than we know.”

Super Group plans to add more exchanges and bring the Supercoin Wallet directly into the Betway app once the rollout moves into later stages.

FAQ

What is ZAR Supercoin backed by?

ZAR Supercoin is backed 1:1 by rand held in custody by ABSA Group.

Where will users find the token at launch?

It begins trading on Luno before expanding to additional exchanges.

Will Betway accept the stablecoin?

Yes, Super Group plans to use it as a payment method for Betway transactions.

What can users do with the Supercoin Wallet?

The wallet will support ATM withdrawals, remittances, point-of-sale spending, and top-ups.

Who regulates Super Money SA?

The Financial Sector Conduct Authority licenses Super Money SA under Category I and II Crypto Asset Service Provider rules.

Are other rand stablecoins available?

Yes, ZARP and yZAR are already active and growing in South Africa.

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