Multinational betting company Super Group is taking its ambitions in cryptocurrency a significant step forward via the launch of its own coin in South Africa, an important market for the group and particularly its Betway brand.

Unveiled yesterday, Super Group’s ZAR Supercoin is a stablecoin pegged to the South African rand. Both the coin and the wallet set up to support it, the Supercoin Wallet, will be managed by a new company division, Super Group SA.

The company eventually wants to enable Supercoin payments to the Betway sportsbook, in doing so tapping into the popularity of cryptocurrencies in South Africa – and possibly in other African markets – and further set its brand out from the competition.

Super Group’s ambitions on both cryptocurrencies and African gaming are nothing new, with the firm detailing earlier this year following the publication of its H1 financial results that it was exploring a link up between the two as a way to cut costs.

“The time is right for Super Group to move into the digital currency space, with our exciting new Supercoin,” said Alinda van Wyk, Super Group Chief Financial Officer.

“We have always been at the forefront of tech advancement in the gambling industry, and this offering will also benefit the millions of customers who enjoy our brands in South Africa and in the rest of the continent.”

Preparations for the Supercoin launch have been months in the making. To build a foundation, the firm partnered with consumer crypto exchange Lumo and obtained licenses from the Financial Sector Conduct Authority (FCSA), with the aim of making digital wallets available in Q1 next year.

Africa leads Super Group revenue

Africa is by far the most important continent for Super Group in 2025. The firm’s latest financial results for Q3 saw revenue of $219m declared from Africa and the Middle East, up from $164m in Q3 2024 and eclipsing revenues from Europe ($81m), North America ($33m) and the Asia-Pacific region ($6m).

Of the 54 countries in Africa, South Africa is by far the most important for Super Group, with Betway one of the biggest online brands in the country. The local industry is also booming with total gross gaming revenue (GGR) for 2023/24 up 25.7% to R59.3bn (€2.9bn), albeit gaining some negative public and political attention.

Super Group sees potential to link South Africa’s growing betting industry with the country’s appreciation for cryptocurrency. The company has taken note of the rate of African stablecoin volume, estimated at around $100bn across ‘key markets’ according to the company.

Attitudes to cryptocurrency payments to gaming appear to be changing one market at a time. Super Group’s experiment in South Africa comes amid speculation that Brazil will one day permit crypto payments for betting, while Estonia is seen by the likes of Yolo Group as the future of regulated crypto betting in Europe.

“The launch of Supercoin will position us for continued success, as alternative payment methods and digital asset frameworks become more integrated into the regulated gaming ecosystem,” van Wyk remarked.

“This also underscores our commitment to innovation and the use of advanced technology to position Super Group for sustained growth.”