Ozow and MoneyBadger welcome Budget commitment to formalising crypto asset framework.

RELEASED 2 March, 2026 

Ozow and MoneyBadger have welcomed Finance Minister Enoch Godongwana’s announcement in the Budget Speech that crypto assets will be formally incorporated into South Africa’s capital flow management framework under the Currency and Exchanges Act.

The move signals a decisive step toward greater regulatory clarity for crypto assets, particularly in relation to cross-border payments and reporting standards  — an area which the fintech sector has consistently identified as requiring immediate clarity.

Ozow, a leading South African payment solutions provider, and MoneyBadger, a Bitcoin and crypto payments gateway that enables businesses to accept cryptocurrency seamlessly, recently announced a strategic collaboration aimed at bridging traditional and digital payments infrastructure. 

Both companies have long advocated for pragmatic regulation that protects consumers while enabling responsible innovation.

Rachel Cowan, Interim CEO of Ozow, says the Minister’s comments reinforce South Africa’s position as a jurisdiction taking a measured, forward-looking approach to digital asset regulation.

“Clear and enabling regulation is critical to building a modern, interoperable payments ecosystem. By formally addressing how crypto assets fit within South Africa’s capital flow framework, National Treasury is helping create the certainty businesses need to innovate, invest and scale responsibly. This is an important step in strengthening South Africa’s competitiveness as a fintech hub,” she says.

The Minister’s announcement follows ongoing legal and regulatory developments concerning the treatment of crypto assets under South Africa’s exchange control regime.

Brent Petersen, Chair of the Crypto Assets Association of South Africa (CAASA), says the formal inclusion of crypto assets in the capital flow management framework is both timely and called for.

“The decision to formally include crypto assets within South Africa's capital flow management framework under the Currency and Exchanges Act is a welcome and necessary step, particularly for payments businesses like MoneyBadger and Ozow, operating at the intersection of crypto and traditional commerce. 

“The 2025 High Court ruling that existing exchange control rules did not apply to crypto was not a surprise to industry participants. The 1961 Exchange Control Regulations were drafted long before decentralised digital assets existed, and crypto's unique nature as code on a distributed ledger, rather than physical currency or bank-issued money, has always sat awkwardly within a framework designed to govern traditional capital and foreign exchange. The industry has long understood this mismatch,” he explains.

Petersen adds that, irrespective of the ruling and its pending appeal, regulatory clarity remains the central priority for the industry.

“However, regardless of the ruling and its pending appeal to the Supreme Court of Appeal, the core issue remains: the market urgently needs regulatory certainty, particularly around reporting standards. Without a clear framework defining how cross-border crypto flows should be reported to FinSurv and captured in balance of payments data, compliant operators are left navigating a grey area that benefits no one: not regulators, not consumers, and not the businesses building legitimate payment infrastructure.”

For payment providers operating at the intersection of crypto and fiat systems, this clarity is particularly significant.

“For payments businesses facilitating crypto-to-rand transactions for merchants across South Africa, this clarity is not a burden, it is an enabler. A well-defined framework will distinguish legitimate, domestically settled crypto payment flows from unregulated cross-border capital movement, giving both regulators and market participants the confidence needed to scale crypto payments responsibly. South Africa's approach of integrating crypto into existing capital controls is needed, rather than creating parallel regimes,” says Petersen,also serving as head of Legal and Compliance at MoneyBadger

Carel van Wyk, CEO of MoneyBadger, says the recognition of stablecoins and cross-border crypto flows reflects practical market realities already visible in South Africa.

“Stablecoins are already popular for cross-border transfers, both inbound and outbound. Formalising the rules that relate to this will be a welcome step forward, as it will provide much-needed clarity for businesses to get the benefits of using cross-border stablecoin settlement.”

Van Wyk notes that stablecoins are increasingly used to reduce settlement times, lower transaction costs and improve transparency in international transactions, particularly for businesses trading across African and global markets.

The collaboration between Ozow and MoneyBadger is designed to support this evolution in payments. 

By combining Ozow’s established real-time payment infrastructure with MoneyBadger’s crypto acceptance capabilities, the partnership enables merchants to accept crypto while receiving settlement in rand, bridging digital assets and traditional commerce in a compliant and seamless manner.

“As the regulatory environment matures, continued collaboration between policymakers and industry will be essential,” Cowan adds. “We are encouraged by National Treasury’s engagement with the sector and remain committed to building payment solutions that are innovative, compliant and aligned with South Africa’s broader economic objectives.”

Both companies reaffirm their support for balanced regulation that strengthens oversight, enhances transparency and positions South Africa as a leader in responsible crypto and fintech innovation.

About MoneyBadger

MoneyBadger is a leading South African Bitcoin payments company enabling safe, seamless crypto transactions online and in physical stores. Merchants settle instantly in Rands, Stablecoins or Bitcoin via its API which supports the Lightning Network and all major wallets including Luno, Binance and VALR. Founded in Stellenbosch in 2022, MoneyBadger bridges legacy POS systems to Bitcoin through QR code scanning. Its first major client, Pick n Pay, launched crypto payments across 1,500+ stores in 2023.
Trusted by top retailers, MoneyBadger raised $400k/R7m in pre-seed funding in 2025 and partnered with Ozow, Peach Payments, Scan to Pay, Ecentric, and Zapper for broader adoption across South Africa at over 650,000 merchant locations.
For more information, visit www.moneybadger.co.za

About Ozow

Ozow is a leading South African fintech company transforming the way consumers and businesses transact through innovative, seamless, and secure payment solutions. Founded in 2014, Ozow specialises in real-time digital payments, offering a range of products including Pay by Bank, Card Payments, PayShap Request, Instant Refunds, Payouts, and Cash Vouchers. Trusted by South Africa’s biggest brands, Ozow enables millions of South Africans to transact effortlessly, helping merchants unlock growth, reduce friction at checkout, and improve financial accessibility. 
Ozow is a licensed System Operator and Third-Party Payment Provider with the Payments Association of South Africa (PASA) and is fully compliant with industry regulations. 
For more information, visit www.ozow.com