South Africa ranks 14th globally in terms of per capita cryptocurrency usage, with nearly one in eight citizens owning a digital asset. A notable 66% of crypto holders express a desire to use their assets in everyday transactions.

MoneyBadger, a new tech startup from Stellenbosch, aims to capitalise on this enthusiasm by facilitating easy, low-cost payments through the AnyLightning wallet, which enables instant transactions. The company’s software integrates effortlessly with existing point-of-sale systems and e-commerce checkout services, offering a streamlined experience for businesses and consumers alike.

MoneyBadger offers a secure and straightforward REST API that integrates with virtually any programming language, platform, or framework. In addition, it provides plugins for major e-commerce platforms like Shopify, Prestashop, Magento, and WooCommerce, bypassing the need for additional hardware. Unlike competitors such as Yoco, Money Badger operates seamlessly with just a smartphone or tablet.

Supported wallets include Luno, Binance, VALR, and AnyWallet, ensuring widespread compatibility. Regulatory approval from South Africa's Financial Sector Conduct Authority (FSCA) and a 2023 South African Reserve Bank (SARB) study recognising crypto payments as a burgeoning commercial opportunity further solidify the platform's legitimacy.

Founder of the most popular South African cryptocurrency exchange, Luno and now founder and CEO of MoneyBadger, Carel van Wyk, told us:

"Money Badger enables a next generation of tech savvy shoppers, and there are around 6 million of these consumers. 66% of them want to spend the cryptocurrency they own in ordinary transactions, but at the moment they don't really have a lot of options. What we're also hoping to do with MoneyBadger is to give businesses and consumers the opportunity to save and spend money in an anti-inflationary currency. Bitcoin is the big one in that category."

Cape Town, already a leading tech hub, is poised to claim its place as Africa's 'Tech Capital.' According to the Start-up Genome Ecosystem Report 2020, it ranks second only to Cairo among African cities. With the Western Cape’s Department of Economic Development and Tourism spearheading initiatives to boost its global standing, the region's tech sector employs more than double the number of people compared to Nairobi and Lagos combined.

In parallel, the rise of cryptocurrencies offers a hedge against global financial instability, particularly in the face of central banks’ increasing focus on Central Bank Digital Currencies (CBDCs). While CBDCs aim to digitise fiat currency, they have sparked concerns about privacy, banking disintermediation, and potential state overreach. In contrast, Bitcoin’s deflationary model, with its fixed supply, is seen as an appealing alternative, particularly for those wary of centralised control.

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