Search Results for "Discovery Bank"
2 results for "Discovery Bank"
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Discovery Bank Plans March 2019 Public Launch as Behavioural Digital Bank
Discovery, a South African financial services company, announced its digital bank Discovery Bank would go live publicly in March 2019 after successful testing. Branded as the 'world's first behavioural bank,' it applies Discovery's rewards-based model to banking. The project received its banking license in 2016 and required approximately ZAR 6 billion ($432.7 million) in investment.
SARB and Seven Banks Test DLT Wholesale Payments in Project Khokha
The South African Reserve Bank published the results of Project Khokha, a 14-week proof-of-concept testing distributed ledger technology for interbank wholesale payments using tokenized rand. Seven major South African banks participated alongside ConsenSys and PwC. The project demonstrated feasibility with transaction speeds up to 400,000 tx/sec, marking a milestone for central bank-fintech collaboration in Africa.