Standard Bank joins global alliance to develop stablecoins

Standard Bank, the Johannesburg-based financial services giant, has joined a global alliance of 21 financial institutions to develop stablecoins. It is the only African representative in this consortium.

The bank’s involvement follows a digital strategy that includes the Aroko platform, which processed over one trillion rands in cross-border flows in 2025, and ZARU, an institutional stablecoin indexed to the South African rand launched in February 2026. ZARU is fully backed by reserves held at Standard Bank and undergoes monthly audits.

The global consortium plans to launch a dollarized stablecoin in the first half of 2027. This tool aims to transform cross-border payments and digital asset settlements, adhering to US (GENIUS Act) and European (MiCA) regulations.