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ZARP is a ZAR-pegged stablecoin with treasury reserves managed by Old Mutual Wealth. It is used for payments, remittances, and as collateral in DeFi applications across multiple blockchains including Base, Ethereum, Polygon, and Solana. When users redeem ZARP for fiat currency, an equal amount of tokens is burned to maintain the 1:1 peg, ensuring every token is always redeemable for exactly one Rand.