Luno Global Lists Institutional-Grade Rand Stablecoin ZARU
BlockTower's ZARU stablecoin has been listed on Luno Global, a regulated crypto exchange. This marks the first time an institutional-grade Rand stablecoin has been listed on a major exchange. The listing gives the Rand its first continuous, on-chain secondary market and direct link to USD stablecoins.
ZARU is backed 1:1 by cash-equivalent reserves held in a segregated account at Standard Bank. Sanlam Specialised Asset Management manages the underlying assets. ZARU can be accessed through direct minting and redemption or secondary liquidity on exchange, with Luno Global providing one of the most accessible secondary venues.
BlockTower has partnered with Currency Hub as ZARU's dedicated market maker to ensure continuous liquidity. The company aims to expand its stablecoin offerings across key African and APAC markets in the future.