With more than 5.8 million South Africans embracing cryptocurrency, and with the value of bitcoin up over 110% and ether nearly 50% in 2024, many are looking for seamless ways to convert their crypto holdings into cash for everyday payments.
The rise of solutions like CryptoExpress highlights a key payment trend for 2025, as cryptocurrency evolves from being merely an investment to becoming a practical tool for everyday transactions.
Triple-A reveals that 52% of South African cryptocurrency owners are already using cryptocurrency for purchases. However, 23.9% of respondents stated they don’t own cryptocurrency primarily due to the lack of acceptance at retail stores.
According to the South African Reserve Bank’s Payments Study Report released in August 2024, South Africans use cash most often as a payment method (87%), regardless of what they buy.
But growing cryptocurrency adoption, combined with a strong preference for cash payments, creates the perfect opportunity for CryptoExpress. Developed by Paycorp, CryptoExpress is a mobile app that allows users to convert their cryptocurrency into cash instantly at more than 3Â 000 Cash Express ATMs nationwide.
Cash Express ATMs are powered by Paycorp’s ATM Solutions, providing unparalleled access to cash for crypto holders. More than 46% of crypto owners have over R10 000 in cryptocurrency and 12% more than R100 000 – with all numbers likely to have grown as the value of key digital currencies have soared in recent months.
CryptoExpress
Since its launch in late 2023, CryptoExpress has allowed South Africans to access their cryptocurrency funds with ease, achieving more than R1-million in monthly withdrawals. This seamless, cardless process allows users to convert their crypto into cash using the CryptoExpress app, authorise the transaction in their wallet, and receive a voucher Pin for instant cash withdrawals – safeguarded by robust encryption and multi-level security.
The app also features an ATM locator to help users find the nearest Cash Express ATM, simplifying access to cash. By bridging the gap between digital and physical currencies, CryptoExpress unlocks the potential of digital assets and enhances financial accessibility.
As cryptocurrency continues to evolve, CryptoExpress is leading the way in making digital wealth tangible and accessible to all South Africans.
The CryptoExpress app is available for free download on both iOS and Android app stores.
- The author, Gavin Reubenson, is CIO at Paycorp, developer of the CryptoExpress mobile app
- Read more articles by Paycorp on TechCentral
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