Africa-Press – South-Africa. South African Reserve Bank Governor Lesetja Kganyago warned about the risk of the increasing popularity of stablecoins, saying there’s a danger the cryptocurrency assets could “break apart”.
Central banks need “to protect the oneness of money and the affordability of money to the public,” Kganyago said Saturday at the 2026 Warwick Economics Summit.
“The truth of the matter is that these things could break apart,” he added, in a reference to stablecoins.
The use of stablecoins — digital tokens backed by assets such as US Treasuries to maintain parity with traditional currencies — has risen sharply in South Africa as a less volatile form of cryptocurrency.
The central bank warned in November that a lack of comprehensive regulations for the assets has emerged as a new risk to the country’s financial sector.
Kganyago also said that increased global uncertainty has underlined the importance of the various financial models used by the central bank. “We have got a suite of models,” he said.
Given the imposition of US tariffs and other changes in the past year, “this became very, very important”.
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