Super Group, the New York-listed company behind Betway and Spin, has launched a new digital currency called ZAR Supercoin as it expands its role in African crypto gambling markets. The new stablecoin is backed by the South African rand and is designed to reduce banking costs while offering faster and cheaper payments for users across the region.
The ZAR Supercoin is issued through a new division called Super Money SA, based in South Africa. Each stablecoin is backed one-to-one with rand held by ABSA Group, one of the country’s largest banks. Super Group said the token runs on the Solana blockchain, which allows fast transfers and low fees. Security and compliance support comes from Fireblocks and Chainalysis.
Super Group confirmed that the stablecoin will first be listed on the Luno crypto exchange before expanding to other platforms. At launch, it will be used as a payment option for Betway, making it a core tool for the company’s crypto gambling plans in Africa. More products will follow as the rollout continues.
Chief executive Neal Menashe said the launch is a major step in changing how the company manages payments. He explained that the use of a stablecoin can lower costs and reduce delays linked to banks. Super Group estimates Africa’s digital currency market is worth about 100 billion dollars each year, with crypto gambling playing a growing role in online activity.
Launching in the first quarter next year is a dedicated Supercoin Wallet. Users will be able to transfer money, make payments, withdraw money, and top up balances with the wallet. Super Group said payments using the stablecoin will be free, compared to bank charges that often apply even to small transfers.
Chief financial officer Alinda van Wyk said the company sees strong demand for better payment tools. She noted that many African users face slow transfers and high fees. She added that digital payments are becoming more important for crypto gambling, especially as mobile use continues to rise.
Super Money SA holds Category I and II Crypto Asset Service Provider licences from South Africa’s Financial Sector Conduct Authority. These licences require identity checks, transaction tracking, and clear audit records. Super Group said this approach brings trust and safety to crypto gambling users while meeting strict regulatory rules.
Managing director Warren Ross said the goal is to make digital money easy to use in daily life. He said the stablecoin is built to be simple and practical, not just for trading. Ross added that removing fees helps more people access secure payment options.
The launch follows the expansion of digital currency usage across Africa. High remittance fees and restricted banking access are still driving customers toward cryptocurrency gambling sites with quicker rewards. Other rand-backed currencies are also entering the market, therefore intensifying rivalry.
Industry experts believe Super Group’s strong brand could speed up adoption. They say trusted companies can help bring crypto gambling into the mainstream. Super Group plans to expand Supercoin to more exchanges and fully integrate it into the Betway app.
With this launch, Super Group positions the stablecoin as a key payment tool for Africa’s digital gaming future.
