FiveWest partnered with Lisk to launch LZAR, a Rand-backed stablecoin, to boost financial inclusion, remittances, and savings across Africa via the FiveWest Money app.

FiveWest, a South African financial services firm licensed to issue rand-backed digital assets, has partnered with Lisk to launch LZAR, a stablecoin pegged 1:1 to the South African rand (ZAR) and issued via the FiveWest Money (FW Money) app. LZAR is built on Lisk’s Layer 2 blockchain infrastructure, chosen for its low fees (under roughly $0.01 per transaction) and fast confirmation times, enabling near-instant, low-cost transfers. FiveWest holds the underlying rand reserves and provides the regulatory and local financial expertise, while Lisk supplies the blockchain rails and ecosystem support tailored to high-growth markets such as Africa. The initiative targets key pain points in African financial systems, including limited access to banking, high remittance costs, and low-yield traditional savings products. Through the FW Money app, users can convert rand to LZAR, make everyday payments, send remittances, and access yield-bearing savings in a fully on-chain format, with advertised returns of up to around 10% APY via a mix of regulated savings products and Lisk-based rewards. By combining a local-currency stablecoin with accessible mobile infrastructure, the partnership aims to expand financial inclusion and offer a digitally native alternative to conventional banking services for underbanked and unbanked users across the continent.

✨ AI-generated background, compiled from web sources — not editorial content.

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