Pick n Pay customers are buying more than R1-million worth of groceries using crypto monthly, a new report has revealed.
Browsing: Luno
Crypto platforms have encouraged traders to embrace the South African Revenue Service’s new disclosure process.
South Africa will license about 60 cryptocurrency platforms by the end of the month.
One bitcoin now costs R1-million, nearly equalling the record high price (in rand terms) set in 2021.
Most companies that have applied for crypto licences in South Africa are already registered as financial service providers.
Simon Fishley, IT director at Luno, has always loved technology but “fell into IT by accident”.
South Africans with a Luno wallet or VALR Pay will soon be able to use bitcoin to buy their groceries.
South Africa will require that crypto exchanges in the country operate with licences by the end of the year.
Luno has launched ethereum staking in South Africa, a way for its customers to earn ether tokens passively.
The Luno crypto exchange plans to pull out of the Singapore market and scrap its application for a licence in the city-state.