Betway and Spin owner Super Group has entered the crypto market with the launch of its Africa-focused digital currency, the ZAR Supercoin. Stablecoins are cryptocurrencies that aim to maintain a stable value, often by being pegged to a stable asset like a fiat currency.
Super Group made the announcement on Thursday, with the purpose-built ZAR Supercoin to operate under a new division of the business called Super Money SA. The digital wallet is expected to launch in Q1 of next year.
The stablecoin will be used as a payment option for its Betway sportsbook brand, with the business looking to capitalise on the growing popularity of blockchain.
