Good news for people who want to buy a car through cryptography in South Africa! 6DOT50, a South African Fintech startup, has recently associated Go up with solutions BTS and SERITI to facilitate cryptographic payments for car purchases. This association announced on January 10, 2025, will allow possible buyers to buy new and old cars.
6DOT50 combines coupons with bank grade transactional services to allow people and companies to store value and transaction without having a bank account. By eliminating compliance barriers, they are bringing those who were marginalized by the traditional financial system to the digital economy.
Buyers can take advantage of the cryptographic payment of their cars in more than 1400 dealers in South Africa. Eight different cryptocurrencies can be used to make your purchase, including bitcoin. According to reports, 6DOT50 has processed cryptographic transactions worth $ 1 million in 90,000 retail locations.
The purchase flow as explained by the founder of 6DOT50 is that a potential buyer can exchange its cryptocurrency for 6dot50 coupons. These coupons can be exchanged even more through a link on the SERITI solution platform. This makes the act of buying a vehicle through discomfort without problems compared to conventional payment methods.
“When establishing a link between cryptocurrency holders that seek to spend their assets and dealers who require payments in local fiduciary currency, 6DOT50 coupons offer an ideal solution,” said Warren Vinter, a 6DOT50 founder.
6DOT50 with this offer has joined another retail giant in South Africa – Pick N pay to offer payment of digital assets. Pick N Pay also offers cryptographic payment options at 1500 retail points in SA.
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South Africa leads the cryptographic revolution in the African continent
Sub -Saharan Africa represents most of the Global cryptographic economy with 2.7%, registered between July 2023 to June 2024. However, the region saw a modest growth number of $ 125 billion value in the chain.
South Africa grants cryptographic licenses to 248 companies, another 56 applicants in pipes
The behavior authority of the Financial Sector of South Africa (FSCA) announced earlier this month that it has approved the licenses of 248 companies to operate as suppliers of Cryptographic Assets Services (CASP) while … pic.twitter.com/cpzwBV4wtk
– Echoeweb (@ecoeweb) December 30, 2024
Cryptocurrencies, particularly stables are earning a lot of traction in South Africa. Currently, the nation is at a cryptography adoption rate of around 9.2%. Stablecoin and other digital currencies that are linked to the dollar are becoming the preferred option in the country.
Cryptographic use cases in Africa are convincing. As the South African Rand is super volatile, users tend to take advantage of the cryptography of commercial payments, inflation coverage and make retail transfers without problems. Conventional financial instruments such as bonds and actions are prone to economic fluctuations.
For users in South Africa, Stablecoins linked the USD, offers stability and reliability in times of economic agitation. By isolating Rand volatility investors, the stable, the stablecoins provide a sense of security and predictability on which people and companies can plan for the future.
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The broader impact of cryptography in South Africa
The banking system in Africa often does not achieve the connectivity of the last mile, leaving many people wanting better financial options. Doubly for those who live in rural areas and cannot meet the banking requirements. Crypto for them offers a life line and offers people who participate in the digital economy.
Remittances are another important factor for millions of Africans, connecting families and communities across borders. Although traditional financial options often have a high rate, slow processing times and limited accessibility, the adoption of Stablecoin in the region has resulted in financial inclusion.
Blockchain technology allows these people to send stables for remittances that are faster, cheaper and safer, all with only a few taps.
Regulated platforms have been fundamental to boost cryptographic adoption in the region. For many, the CASP license issued by the FSCA has provided users the necessary guarantee that the role of the platform under strict regulations and financial standards.
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