South Africa Launches Stablecoin, Revolutionizing Local Economy with Faster and Cheaper Transactions.

South Africa has launched ZARU, a stablecoin backed by the South African rand, in partnership with Luno, Sanlam, EasyEquities, and Lesaka Technologies. The stablecoin operates on Solana and aims to provide efficient and cheap settlement for users. The launch is seen as a strategic move to bring the South African rand onto high-speed blockchain rails and compete with the Euro and USD. The stablecoin is expected to power the economy and open new opportunities for users.