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SARB Deputy Governor Rashad Cassim: payments, digital assets and the future of finance

SARB Deputy Governor Rashad Cassim outlined the SARB's thinking on fast payments, digital assets and CBDC, including lessons from Project Khokha.

cryptobanking.news Editorial · AI-assisted, source-verifiedT1RegulatorAfrica
Illustration · category artwork. Primary source: South African Reserve Bank (resbank.co.za).

Key takeawaysFact

  1. 1SARB Deputy Governor Rashad Cassim outlined the SARB's thinking on fast payments, digital assets and CBDC, including lessons from Project Khokha.
  2. 2He said stablecoins in South Africa are mostly used for trading, arbitrage and settlement within crypto markets, and that the SARB is assessing whether existing regulation can be extended to stablecoin arrangements.
  • Stablecoins
  • CBDC
  • Tokenized deposits

Executive summaryFact

SARB Deputy Governor Rashad Cassim outlined the SARB's thinking on fast payments, digital assets and CBDC, including lessons from Project Khokha. He said stablecoins in South Africa are mostly used for trading, arbitrage and settlement within crypto markets, and that the SARB is assessing whether existing regulation can be extended to stablecoin arrangements.

Primary source: South African Reserve Bank ↗

Key factsFact

Jurisdiction
Africa
Source
South African Reserve Bank
Source tier
Tier 1 · Regulator / central bank

From the sourceFact

“The SARB’s exploratory work on retail central bank digital currency is part of a broader effort to understand how public digital money might function in a modernised economy.”

Verbatim from South African Reserve Bank✓ string-matched against the live page 2026-10-22

Why it matters for banksAnalysis

South African banks should expect the SARB to weigh stablecoin regulation against its own payments modernisation agenda, with currency substitution and exchange-control circumvention as stated concerns.

Editorial analysis based on the facts above and the sources below; not legal or investment advice.

Sources and evidence

Evidence types: how we classify sources.

AIAI-assisted: summary and analysis were drafted with AI from the primary source and are the editor’s responsibility. AI-drafted from the primary source; quote string-matched by scripts/verify.mjs. Methodology · Corrections · Report an error

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