Stablecoins: The Quiet Revolution South Africa Can’t Ignore
- Stablecoins processed roughly $33 trillion in transactions globally in 2025, surpassing Visa and Mastercard's combined throughput.
- South Africa's 2025 Budget Review promised a regulatory framework for stablecoins, but no proposals have been made by 2026.
- The Intergovernmental Fintech Working Group's report found ZAR-backed stablecoins are issued by non-bank entities, increasing consumer exposure to risks.
The current stagnation in South Africa's regulatory approach to stablecoins is alarming, especially as global standards evolve. Without proactive measures, the country risks falling behind in a rapidly changing financial landscape, potentially exposing consumers to significant risks. It is crucial for South Africa to prioritize the establishment of a robust regulatory framework to safeguard innovation and consumer interests.
