Fintech Association of South Africa (FINASA)

Savings are essential for financial security, serving as a buffer against unexpected events. By beginning with small amounts and steadily increasing your savings, you can create a solid base for financial stability. #Saving #FinancialSecurity

Driven by regulation in the UK but an important step to allow consumers to deposit cash into a digital only bank. Hylton Kallner, Coenraad (Coen) Jonker Karl Westvig TymeBank Discovery Limited Fintech Association of South Africa (FINASA) #fintech #banking #cashless

⚖️ Africa has witnessed a dynamic shift in the regulation surrounding cryptocurrencies over the last 18 months, but where is crypto now legalized on the continent? Provided by NODO, our latest edition of the CV VC African Blockchain Report, co-published by Absa Corporate and Investment Banking, includes a detailed overview of the regulatory landscape in Africa. Check out some of the key regulatory insights below: - Reduced Bans: The number of African countries with an implicit ban on cryptocurrencies has dropped dramatically from 36 to 8, signaling a more progressive outlook on blockchain technology - Central Bank Digital Currencies: While full legalization of cryptocurrencies remains limited due to fiscal concerns, there is a notable exploration of central bank digital currencies across the continent, igniting debate among key political figures and organizations to push the adoption of the transformative technology - Economic Challenges: The devaluation of many African currencies in 2023 posed substantial challenges, with governments wary of crypto's competition against local currencies - Uncertain Markets: Over 36 African nations are now classified as uncertain crypto markets, reflecting ongoing regulatory progress amidst uncertainties These developments underscore the dynamic nature of Africa's regulatory environment, fostering an atmosphere where pioneers and investors can thrive with newfound assuredness 🌍 Read the full report to dive deeper into the regulatory nuances and their implications for the future of crypto in Africa. Access the report here: www.cvvc.com/africanreport #CryptoRegulation #Africa #Blockchain

Xion Global is thrilled to announce our selection as one of the top 25 projects amongst 255 applicants in the Thrive Polygon Consumer Crypto Grants Program for builders on Polygon Labs 🎉 An initiative launched by Thrive Protocol in partnership with Polygon’s Community Treasury Board, distributing $800,000 in MATIC grants to top consumer crypto builders in web3! This grant is aimed at accelerating Xion Global’s latest #web3 payment innovations and infrastructure scalability across all current and upcoming payment service provider integrations. Fuelling the next wave of web3 wallet onboarding, cross-chain payment rails and overall accessibility to stablecoins in lower LSM markets 🔥 A massive congratulations to our founders Aeryn Quarmby Brent McMahon-Panther Ronan Quarmby and all 25 projects that were selected! Time to crush these milestones and find synergy wherever possible 🤝 For more details, check out the full announcement: 👉🏼 https://lnkd.in/deT2ibQ3

Thrilled to announce the launch of our new pay-as-you-go service for cars into the market 👏 🚗 https://lnkd.in/dPQkuc3r

Peach Payments, has acquired customer software development firm Operativa as a going concern. The acquisition is Peach Payments' first since it closed a €29 million/$30 million investment round headed by the Apis Partners Growth Fund II last year. https://lnkd.in/djGUKktW

Mercury, a San Fransisco digital bank that became the preferred banking partner for Nigerian startups after Silicon Valley Bank went under in March 2023, will close the accounts of Nigerian users by August 22, 2024. With the new prohibitions, Nigerian startups incorporated in Delaware cannot open Mercury accounts unless the founders live in the U.S. Get all the details  👉 https://lnkd.in/dFmZHsju 

I’m convinced that we are about to ride a wave of a catalytic enablement of #FinancialInclusion and much needed payments industry change in Mzansi 🇿🇦!! All thanks to the bold leaders at the South African Reserve Bank, like Tim Masela, Pradeep Maharaj, Dr. Mellanie de Jager and the rest of the #SARB Leadership team ✊🏾. What an exciting week in the Payments ecosystems in South Africa!! A BIG thank you to the SARB for the invite to a 2 days “Payments Ecosystem Modernisation” Industry Dialog this week. My 3 main takeaways from the Dialog: 1. SOON - a participation of the non-banks DIRECTLY in the National Payment System and implementation of the pre-funded settlement model. This means more money in the pockets of our People, as the downstream fees should reduce drastically. 🚀 2. THIS YEAR - Rolling out of QR-code standardisation. Interoperability and directly giving choices to our People. This is a game changer!!!! 🥳 3. PoC for the Digital Financial ID - domestic and regional digital ID for everyone in SA, including for undocumented individuals and businesses. Excited to see how this will be unpacked and play out. For those that don’t know, Fintech Association of South Africa (FINASA) is an advocacy body for the fintech ecosystem in South Africa - that I’m honoured to serve, and we thank the SARB for their ear and continuously consulting us 🙏🏾. Together (Regulators, Banks and Fintechs) we can do more for the betterment of South Africa, and Her People!!! Next stop - PayShap and Remittances!! 🧐 “The PAYMENT train has left the station and it’s up to you to catch up to it, because it is not coming back for you” - Pradeep Maharaj. He also closed by saying “Don’t tell us why we can’t change, but rather tell us how we can - and let’s be on this journey together.” It was great catching up and having thoughtful conversations with the payment industry leaders. My brain is still buzzing and about to explode🤯! I will not rest until I’ve achieved my Purpose to ensure Financial Inclusion & Literacy for our People and their businesses, in my lifetime ✊🏾. #FINASA #Payments #fintechs

Our hard work pays off!! On and off “the field”. In line with our mission as an advocacy body for fintechs in South Africa, financial inclusion is one of our core visions! The PEM dialog and announcements are a huge milestone in achieving this. Thank you to the Payments team at the South African Reserve Bank for always making time for us.

Thank you to BDO South Africa for hosting a little get together this evening in Johannesburg. What was intended to be a small informal gathering turned into a facinating discussion around regulation in South Africa. Thank you to Nevellan Moodley CA(SA) for igniting the conversation and to everyone who took part. Bert Lopes, Tim Wright, Kagisho Dichabe, Danielle du Toit, Kim Dancey, Marcello Schermer, Heidi Patmore, Lerato Lamola Esq. Darren Franks #fintech #southafrica