Built on Ethereum
Digital Rand (ZAR) is an ERC-20 compliant token built on the Ethereum blockchain. Users can store ZAR in any Ethereum-compatible wallet, such as Trust Wallet.
Stable Currency
Each ZAR token is backed either by South African Rand or Ethereum. For customers with SA Rand bank accounts, 1 ZAR can always be redeemed for R1.00 through a standard KYC process.
Decentralised Exchange
Decentralised token swaps between ZAR & ETH/ERC-20 tokens, thus your digital assets are always in your possession.
USD / ZAR Limit Orders
Trade between ZAR & USDC, a dollar stablecoin, from your wallet without the need to deposit tokens.
Audited Reporting
Month-end attestations to verify the entire supply is consistent with ZAR in reserve accounts.
Service Offering
We are currently in beta and will be going live with all our services from September 2019. Follow us on our Social Media accounts to stay updated.
Fiat to Crypto
Deposit fiat Rands via EFT and receive Digital Rand (ZAR) tokens into your Ethereum wallet. Newly minted tokens will be created directly into user's wallets.
Crypto to Fiat
Redemptions from Digital Rand (ZAR) to fiat Rands from reserve accounts to a SA bank account, simply by sending ZAR tokens to our redemption Ethereum address.
Exchange
Swap Digital Rand (ZAR) tokens into Ethereum or many ERC-20 tokens and visa versa. Metamask, Ledger, Trezor & dApp mobile wallets accepted.
Liquidity Pools
Add liquidity depth to our Digital Rand (ZAR) exchange pool and earn 0.3% commission fees in relation to your holdings.
Continent
Once Digital Rand is established we would like to utilise the same model in other African countries in order to create one token, representing a basket of African tokens to be used throughout the continent.
Currencies
Under consideration, but not limited to:
- Botswanan Pula
- Moroccan Dirham
- Zambian Kwacha
- Sudanese Pounds
Trading
Decentralised limit order trading against ZAR as the base pair:
- BWP / ZAR
- MAD / ZAR
- ZMW / ZAR
- SDG / ZAR
African Token
Representing a basket of all ZAR pairs that can be used throughout the African continent where the fiat currency is unstable and access to banking facilities is limited.
Vision
The end-goal is to seamlessly allow South African's the ability to convert fiat Rands into Digital Rands. Once an individual has received the Digital Rand (ZAR) tokens into their Ethereum Wallets, they would be able to:
Store
Hold onto the tokens as a hedge to falling digital asset prices
Trade
Exchange the token into Ethereum or many ERC-20 tokens via a decentralised exchange
Peer-to-Peer
Send tokens as a means of payment
Commerce
Transact for goods & services
Earn
Add liquidity depth in order to earn commission fees
