News24 spoke to multiple market leading crypto asset providers who provided an indication of the growth. Hundreds of billions of rands worth of cryptocurrency have been traded by South Africans in recent years as the global crypto craze has taken hold in the country. News24 spoke to multiple market-leading South African crypto asset providers to get a sense of the scale of their operations. Luno is a crypto asset provider that operates internationally and has a large presence in South Africa. Similar to equity and foreign currency traders, many crypto traders place hundreds of trades per day, trading high volumes at low margins," said De Wit.

Source: News 24 August 20, 2023 15:56 UTC