mZAR's value is directly pegged to the South African Rand. For every mZAR in circulation, there is a corresponding Rand held in a segregated reserve.
WHITEPAPER <GO>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.
Mesh Trade is GDPR Compliant.
mZAR is issued on the Stellar blockchain where all mZAR in circulation can be monitored.
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.
Mesh Trade SA holds ZAR collateral in a segregated and trusted account at our Partner Bank, which is an accredited financial institution.
Mesh Trade SA is in the process of applying for a FSP Category 2 license.
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.
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.
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 supply with reserve levels.
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