ZARU rand stablecoin goes live on Circle's Arc blockchain

South Africa's rand-denominated stablecoin ZAR Universal (ZARU) has launched on Circle's Arc blockchain and became the first African stablecoin on Circle StableFX. Issued by BlockTower under an FSCA licence, it is fully backed 1:1 by rand held onshore, with Sanlam managing reserves and Luno as the primary ZARU/USDC venue.

• ZARU is fully backed 1:1 by rand held onshore in South Africa
• It trades against USDC on StableFX with atomic settlement
• Luno serves as the primary venue for ZARU/USDC liquidity
• Partners include BlockTower, Luno, Sanlam, EasyEquities and Lesaka