With 7.8 Million Users, Crypto Draws Financial Stability Warning from South African Central Bank

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Citing a massive user base of 7.8 million on its top three platforms, the South African Reserve Bank has raised a red flag on digital assets.

In its latest stability report, the SARB identified crypto assets and stablecoins as an emerging risk, underscoring the sector’s rapid growth. The central bank revealed that these users held approximately $1.5 billion in assets by the end of 2024.

Beyond the sheer scale, the report warned that the digital, borderless nature of cryptocurrencies poses a threat to national financial controls and noted a significant, structural increase in stablecoin trading.