Customers with South African bank accounts can onramp their fiat currency to the exchange via regular electronic funds transfer and buy cryptocurrency.Binance still supports Stitch alongside manual EFT. Neither system currently attracts a transaction fee.
Instead, they hold a randomly generated token representing the credentials. Credentials are sent from a vault stored in Microsoft’s Azure cloud to the bank when making an Instant EFT.
Is this legal? I thought we are not allowed to buy crypto with Rands on international exchanges due to exchange controls from SARB.
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