The South African Rand-pegged institutional stablecoin ZAR Universal (ZARU) is officially launched, aiming to modernize payments and financial infrastructure. ZARU operates on the blockchain and is backed by Rand reserves, enabling 24/7 instant settlement. According to the protocol, Sanlam, a professional asset management company, is responsible for overseeing the underlying assets, while Moore Johannesburg conducts monthly audits of the reserves, which include cash, deposits, and South African government bonds. The launch of ZARU is the result of collaboration between Luno, Sanlam, EasyEquities, and Lesaka.