Ovex Exchange, South Africa, Has Launched the First Rand Stablecoin, Zarp

The ZARP Stablecoin, which is tethered to the South African Rand, is now available on the OVEX Exchange, which is based in South Africa. The Kempen Group audits ZARP on a regular basis, attesting to the stable’s token supply and cash maintained in its treasury account.

Simon Dingle, one of ZARP’s founders has noted that the smart contract of ZARP has been audited by Solidity Finance, which has guaranteed the quality of the stable.

Aside from OVEX Exchange, ZARP is also listed on Curve, an Ethereum-based exchange liquidity pool designed for low-risk Stablecoin trading and supplemental fee income for liquidity providers with no opportunity cost. This indicates that yield incentives will be available in native ZAR value on Curve shortly.

Keep3r.network, an innovative decentralized platform meant to improve collaboration between projects that require outside development activities and those that can provide such services, has also been merged with ZARP, according to the company.

South Africans are believed to be able to use DeFi while avoiding RAND (ZAR) exposure thanks to ZARP. As a result, it attempts to deliver the benefits of stablecoins, which, according to Dingle, are critical in representing fiat currencies in the new DeFi environment.

OVEX is the first centralized exchange to list ZARP, demonstrating that the popular cryptocurrency platform is at the cutting edge of the South African business once again.

You may buy ZARP quickly and easily using OVEX’s Buy and Sell Service, which generates quotes for you to accept right away.

OVEX also has an Over-the-Counter desk that offers additional services to businesses and high-net-worth individuals, such as post-trade settlement, margin services, and a 24-hour phone line.


Be the first to know when we publish something new

We don’t spam! Read our privacy policy for more info.

Abdulquadri Ayilara
Abdulquadri Ayilara
Abdulquadri is an intern at Tech with Africa (TWA) in Nigeria when he isn't coordinating building site operations. He covers innovative technology in Africa, construction, and agriculture in his writing.

Get in Touch


Please enter your comment!
Please enter your name here

Related Articles


Latest Posts