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Meet Lyle Horsley – Head of SARB's Fintech Unit. She will be explaining the recently launched Project Khokha2, completed in collaboration with @FintechHubSA
Governor @KganyagoLesetja will today launch the #ProjectKhokha2 report that explores the policy & regulatory implications of tokenisation in financial markets. It tested the practical proof of concept (PoC) of distributed ledger technology (DLT) to settle debentures.
The SARB in collaboration with the IFWG is launching #ProjectKhokha2 report, which explores the policy and regulatory implications of tokenization in financial markets. It tested the practical proof of concept (PoC) of distributed ledger technology (DLT) to settle debentures.
#Projectkhokha2 The SARB’s participation in various CBDC-related projects is explorative, with no decisions being made to issue a CBDC. Project Khokha,
Project Dunbar and the SARB’s feasibility study into a retail CBDC are designed to allow for deeper insights, better policy alignment, and overall coordination on our response to CBDCs.
financial inclusion, and fair lending practices. In turn, South African consumers may benefit from these innovations through a more competitive market that potentially drives down the prices of financial products and services,
greater accessibility of financial products and services leading to increased inclusivity in the banking and financial services sector and improved product and service quality.
How does the Hub benefit South African consumers?
The Innovation Hub is intended to support the financial sector in introducing innovations that complement the core mandates of regulators, including financial stability and soundness, consumer protection,
Digital payments - The payment industry is comprehensively regulated in South Africa. Bank and non-bank participants must have formal authorization from SARB or the Payment Association of South Africa (PASA).
Fintech providers that facilitate digital payments involving legal tender are considered systems operators or third-party service providers, depending on their business activities, and must have PASA authorization.
Would you like to know more about the IFWG’s Innovation Hub and some of the cool initiatives happening in the #fintech space? Visit our website at ifwg.co.za or pop us a question at innovation@ifwg.co.za
IFWG #InnovationHub#Fintech
Financial sector policies and regulations are complex. The Regulatory Guidance Unit exists to help market innovators resolve specific questions regarding the policy landscape and regulatory requirements. Learn more here:
ifwg.co.za/regulatory-guidan…