The Rand, Upgraded.

mZAR combines the validity of South African Rand Fiat with the speed and transparency of a Cryptocurrency

Get it on

Trustworthy, Reliable & Transparent.

mZAR is backed by actual South African Rands, making it a digital representation of Fiat Money. This gives mZAR the Security and Credit Worthiness of the Rand with the Speed and Transparency of a Crypto currency. It’s the best of both worlds.

1 X mZAR = 1 X ZAR

mZAR’s value is directly pegged to the South African Rand, so for every 1 mZAR coin we issue, we back it with a South African Rand.

Attestations

Attestations are Certifications of Fiat Backed Reserves

Mechanisms

Issuance, Distribution, and Burning mechanisms

Issuance

mZAR tokens are minted through a smart contract mechanism. After verification of KYC and AML requirements, users can initiate the minting process. Tokens are minted at a 1:1 ratio by depositing ZAR into the Reserve Bank. This ensures that each mZAR token in circulation is backed fully by the equivalent ZAR deposit.

Burning

A burning mechanism maintains mZAR’s peg and controls supply. During redemptions, users return mZAR in exchange for ZAR, triggering a burn of the redeemed tokens, which are then removed from circulation. Burning is also used to manage excess reserves, ensuring a balanced supply and promoting the token’s stability.

Distribution

To maximise accessibility, mZAR can be purchased directly from the Mesh platform or through partnered exchanges, enabling both individual and bulk OTC transactions. Distribution is carefully managed to align the token’s supply with reserve levels, ensuring liquidity while upholding the token’s 1:1 peg to the ZAR.

Asset Metadata

VERSION = "2.0.0"
NETWORK_PASSPHRASE = "Public Global Stellar Network ; September 2015"
ACCOUNTS = [
    # issuance account
    "GCBNWTCCMC32UHZ5OCC2PNMFDGXRVPA7MFFBFFTCVW77SX5PMRB7Q4BY",
    # operational account
    "GAGXO5ZHDG3AZDKCNTBZUNQG37MWMFN4L2L2PP2OGF3UEKUWE7X4AP6S",
    # market infrastructure account
    "GBZ64IWKMZCVEFJCWODLFRFKWWZY6W7M72RXLOAGCJQ67X4XUHANU7GV"
]

[DOCUMENTATION]
ORG_NAME = "Mesh Trade South Africa (Pty) Ltd"
ORG_URL = "https://mzar.mesh.trade"
ORG_LOGO = "https://mzar.mesh.trade/org_logo.png"
ORG_DESCRIPTION = "Mesh is a multi-sided, cross-asset platform that provides universal, direct access for all participants to a trusted global capital marketplace. Mesh makes it possible to Create, Issue, Trade, and Own tokenised digital assets over their full Lifecycle giving everyone access to grow their wealth."
ORG_PHYSICAL_ADDRESS = "Netherlands : De Cuserstraat 93, Amsterdam, CV | South Africa : 8a Jellicoe Avenue, Rosebank, Johannesburg, 2196"
ORG_TWITTER = "@mesh_trade"
ORG_OFFICIAL_EMAIL = "hello@meshtrade.co"
ORG_SUPPORT_EMAIL = "help@meshtrade.co"

[[PRINCIPALS]]
name = "Erick van der Linde"
email = "erick@meshtrade.co"

# mZAR asset
[[CURRENCIES]]
code = "mZAR"
status = "live"
issuer = "GCBNWTCCMC32UHZ5OCC2PNMFDGXRVPA7MFFBFFTCVW77SX5PMRB7Q4BY"
display_decimals = 2
name = "ZAR Mesh"
desc = "mZAR is a fully collateralized South African ZAR stablecoin, based on the open fiat stablecoin framework of Mesh. mZAR is fully redeemable for ZAR held in an account managed by Mesh."
conditions = "Redeeming requires a valid South African bank account and KYC verification on https://app.mesh.trade"
image = "https://mzar.mesh.trade/mZAR-coin.png"
is_asset_anchored = true
attestation_of_reserve = "https://mzar.mesh.trade/#transparency"
anchor_asset_type = "fiat"
anchor_asset = "ZAR"
redemption_instructions = "Redeemable through a Mesh account at https://app.mesh.trade"

The Power of Crypto backed by the Stability of a Fiat Currency. That’s what makes mZAR Fast, Efficient, and Future-Ready.

What makes mZAR trustworthy

KYC & AML

Users need to pass KYC and AML checks before being allowed to mint or redeem mZAR. Redemptions or Purchases must be made from a verified bank.

GDPR

Mesh Trade is GDPR Compliant.

Stellar Monitoring

mZAR is issued on the Stellar blockchain where all mZAR in circulation can be monitored.

Monthly Audit

Monthly third-party audits are done by an independent accounting firm to ensure 1:1 relationship between issued mZAR on Stellar and collateral account balance. The audit report is published on the mZAR website monthly.