Super Group Launches ‘Supercoin’ for South Africa and Wider African Market
The digital currency has been developed specifically for South Africa and the broader African market, where Super Group is already one of the continent’s largest B2C gaming operators.
The New York Stock Exchange-listed operator behind Betway and Spin has unveiled the ZAR Supercoin, announced on Wednesday (12 November) via its new business division, Super Money SA.
The digital currency has been developed specifically for South Africa and the broader African market, where Super Group is already one of the continent’s largest B2C gaming operators.
Alinda van Wyk, Super Group CFO, said:
“The time is right for Super Group to move into the digital currency space, with our exciting new Supercoin. We have always been at the forefront of tech advancement in the gambling industry, and this offering will also benefit the millions of customers who enjoy our brands in South Africa and in the rest of the continent.
“The launch of Supercoin will position us for continued success, as alternative payment methods and digital asset frameworks become more integrated into the regulated gaming ecosystem. This also underscores our commitment to innovation and the use of advanced technology to position Super Group for sustained growth.”
The Supercoin will eventually support payments for Betway customers, with the company stating it will improve efficiencies. Users will also benefit from initiatives exclusive to Supercoin holders.
Super Group said the move responds to growing demand for frictionless currency exchange and global interoperability, noting that Africa’s stablecoin trading volumes are estimated at around $100bn across key markets.
Supercoin will be listed on cryptocurrency exchange Luno and rolled out initially to customers in South Africa, with further international exchange listings planned as adoption grows.
