How to Supercharge Fintech Overnight

February 10, 2024

How to Supercharge Fintech Overnight

If our reports on regulating crypto asset service providers in SA got you excited, this week’s podcast is for you. We chat with Tobie van der Spuy, co-founder of Block Markets Africa about how this can potentially fast-track fintech projects in SA.

The highlights…

1. Who’s getting in on the FSP licensing bandwagon?

An interesting insight shared here is around the 20-odd applications that were withdrawn from the Financial Sector Conduct Authority’s Financial Services Provider (FSP) licencing process. The first reason was that existing FSPs wanted to also get licenses to trade crypto - but one of the criteria is to have a key individual who not only bears the responsibility but also understands the complexities and risks that exist in the crypto space.

2. SA’s best-kept Crypto Secrets!

One of South Africa’s best-kept secrets is that we have a really mature and highly innovative space. Arguably one of the best in the world, actually, Tobie says. He shares that he often has international customers come and visit them in Cape Town, and can introduce them to 20 different really serious players in the crypto space (in a 3.5km radius) – all doing things of global significance.

3. The FinTech opportunities in SA and the rest of the continent

One of the challenges with trading crypto as a South African is that we have to do it using other currencies. Tobie and his team have been working on the EZAR, it’s a standard for any licensed financial service provider to issue their own stablecoin. Listen in here.

So if you want to understand how blockchain will affect all of our lives check out the entire episode for these and more gold nuggets.