The South African Reserve Bank (SARB) has concluded a 14-week blockchain proof of concept trial for an interbank clearance and settlement system. Named Project Khokha, the blockchain solution is built on Quorum, an Ethereum-based enterprise blockchain platform created by investment bank JPMorgan. The blockchain proof of concept was performed in…
4 posts tagged
South African Reserve Bank
Cryptocurrencies are cyber tokens says South Africa's central bank
The South African Reserve Bank (SARB) continues to provide policy guidance on cryptocurrencies and how they should be treated in the Southern Afrikan country. In one of its latest statements, South Africa's central bank said that it considers cryptocurrencies as "cyber tokens" as they dont meet the criteria…
South African Reserve Bank establishes a FinTech unit to advice on policy
The South African Reserve Bank (SARB) has established a FinTech unit to research and recommend policy frameworks for the FinTech sector, among other responsibilities. The announcement was made by Francois Groepe, Deputy Governor of the South African Reserve Bank, at the 13th BCBS-FSI high-level meeting for Africa earlier in 2018.…
TerraPay Obtains Approval From The South African Reserve Bank To Launch Cross-Border Money Transfers
TerraPay has obtained approval from the South African Reserve Bank to launch cross-border money transfer services in South Africa. Terrapin is the world's first mobile payments switch. "As per a report from FinMark trust, the bulk of remittance flows from South Africa are destined for Zimbabwe, Mozambique and Lesotho,…