Block Markets Africa

What Block Markets Africa does

Block Markets Africa (Pty) Ltd, founded in 2018 and headquartered in Cape Town, is a South African financial market infrastructure provider operating a regulated shared ledger for licensed Financial Service Providers (FSPs). Its core product is OpenRUN, the Open Regulated User Network, a fully EVM-compatible public permissioned blockchain whose validators are exclusively regulated FSPs, with non-transferable Smart KYC NFTs enforcing wallet-level compliance and permissioned tokens issued in ERC20 or ERC1400 form. Built atop this network are Regulated User Wallets for instant peer-to-peer payments and cross-border transfers, a Wallet-as-a-Service offering, and an Enterprise Rapid Web3 Development Framework providing branded web, mobile, and native iOS/Android applications with automated eKYC.

Name

Block Markets Africa

Legal name

Block Markets Africa (Pty) Ltd

Website

https://blockmarketsafrica.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Block Markets Africa operates OpenRUN, a regulated EVM-compatible public permissioned blockchain for South African Financial Service Providers, offering KYC-enforced wallets, payment infrastructure, cross-border transfers, and real-world asset tokenisation to licensed FSPs and their end users.

Ownership category

akta.pro rank

Product category

Financial Market Infrastructure Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE)

akta.pro secondary industries

Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting) (FSAPAIAH), Transfer Agent, Cap Table & Token Lifecycle Management (registrar, corporate actions, burns/mints) (FSAPAIAF), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)

Keywords

• Regulated blockchain infrastructure
• Digital asset custody
• Real-world asset tokenization
• Cross-border payment infrastructure
• Enterprise wallet services

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Open Sandbox Subscriptions: Subscription-based access to the Open Sandbox environment providing businesses, developers, and regulators first-hand experience with the Open Regulated User Network in a secure and compliant environment.
2. Transaction Processing: Fees collected from processing payments and transactions through the regulated network infrastructure, including micro-transactions and large-scale transfers.
3. Enterprise API and Wallet Services: Revenue from enterprise APIs and wallet-as-a-service offerings, including branded responsive Web/MobiApp and native iOS/Android apps with eKYC integration.
4. Platform Licensing: Licensing of the OpenRUN infrastructure and regulated network technology to regulated FSPs for deployment.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Block Markets Africa operates OpenRUN, an EVM-compatible public permissioned network run by regulated Financial Service Providers as validators, providing Regulated User Wallets, Regulated Tokens, and Wallet-as-a-Service for licensed businesses. The platform enables instant peer-to-peer payments, cross-border transfers, and real-world asset tokenisation under FSCA-aligned compliance, with Smart KYC NFTs enforcing identity and transactional permissions at the wallet level.

Product overview

Block Markets Africa operates as an Open Financial Market Infrastructure provider offering a platform-plus-modules architecture. The core product is the OpenRUN (Open Regulated User Network), a fully EVM-compatible public permissioned blockchain operated by regulated FSPs. Built on this core are Regulated User Wallets (KYC-verified for payments and transfers), Regulated Tokens (ERC20/ERC1400 compatible), and the Enterprise Rapid Web3 Development Framework for wallet integration. The Open Sandbox provides a testing environment, while the Wallet as a Service offering delivers enterprise wallet infrastructure. All products are designed for compliance with South African financial regulations (FSCA) and operate within a network of licensed financial service providers.

Differentiator

Problem solved

Functional benefit

Brands

• OpenRUN: Open Regulated User Network - a fully EVM compatible Public Permissioned Network operated by regulated FSPs as validators. A regulated shared ledger for FSPs that enables regulated user functions.
• Open Sandbox

Products and services

• OpenRUN (Open Regulated User Network) A fully EVM-compatible public permissioned network operated exclusively by regulated Financial Service Providers as validators, serving as a regulated shared ledger that enables wallets, tokens, payments, cross-border transfers, and real-world asset tokenisation for licensed institutions.
• Regulated User Wallets KYC-verified wallets linked to Key Individuals at regulated FSPs through non-transferable Smart KYC NFTs that define how the wallet transacts, supporting both hosted custodial and non-custodial deployments for licensed businesses and their users.
• Regulated Tokens Permissioned digital asset tokens in native ERC20-compatible form or fractionalised, fungible real-world-asset form (ERC1400-compatible) issued by regulated FSPs, with transaction-level KYC enforcement via Smart KYC NFTs.
• Enterprise Rapid Web3 Development and Deployment Framework An enterprise-grade development framework offering APIs for real-time balance and transaction notifications and simple trade, transfer, mint, and redeem functions, accompanied by branded responsive web/mobi apps and native iOS and Android apps with GDPR-compliant eKYC.
• Open Sandbox A subscription-based gateway that allows businesses, developers, and regulators to experience the Open Regulated User Network in a secure and compliant environment for evaluation, integration, and experimentation.
• Wallet as a Service Enterprise wallet infrastructure enabling licensed businesses to integrate, issue, and operate regulated hosted custodial and non-custodial wallets on the OpenRUN network, with development toolkit support and eKYC integration.

Quantifiable outcome

• Over 1000 TPS processing speed with instant, asynchronous confirmation
• +2 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

26 partnerships are on record, tiered core and secondary.

• VALRcoreTechnology or IntegrationVALR operates as a validator and ecosystem partner on the OpenRUN network, contributing to the regulated blockchain infrastructure operated exclusively by regulated FSPs.
• NedbankcoreTechnology or IntegrationNedbank participates as a validator and ecosystem partner on the OpenRUN network, one of South Africa's major banks contributing to the regulated financial infrastructure.
• Johannesburg Stock Exchange (JSE)coreStrategic or Co-development PartnerJSE is an ecosystem partner involved in IFWG Project Khokha II experiments for wholesale CBDC and tokenised securities, collaborating on regulated blockchain infrastructure development.
• MicrosoftsecondaryTechnology or IntegrationTechnology partner and collaborator in the ecosystem, providing technology infrastructure support for the OpenRUN network.
• MomentumsecondaryTechnology or IntegrationFinancial services ecosystem partner on the OpenRUN network, contributing to the regulated service provider ecosystem.
• South African Reserve Bank (SARB)coreStrategic or Co-development PartnerBMA was contracted as technical partner for SARB's Project Khokha II wholesale CBDC, Settlement Token, and Tokenised Debenture experiments.
• eZARcoreStrategic or Co-development PartnerZAR stablecoin partner on the FINASA eZAR Program for digital asset payment interoperability. FINASA PWG is hosting the ZAR stablecoin program on the Open Regulated Network during Q4 2024.
• FINASA (FinTech Association of South Africa)coreStrategic or Co-development PartnerFINASA Payment Working Group is hosting the eZAR Program ZAR stablecoin and digital asset payment interoperability program on the Open RUN during Q4 2024.
• StratecoreStrategic or Co-development PartnerSouth African central securities depository partnered in IFWG Project Khokha II experiments alongside SARB, JSE, and SWIFT.
• SWIFTcoreStrategic or Co-development PartnerGlobal financial messaging services provider collaborated in IFWG Project Khokha II wholesale CBDC experiments.
• MazarssecondaryImplementation/ SI/ Consulting PartnerProfessional services and consulting firm operating as an ecosystem partner on the OpenRUN network.
• BlockhousesecondaryTechnology or IntegrationEcosystem partner on the OpenRUN network, providing blockchain-related services.
• CallpaysecondaryTechnology or IntegrationPayment services provider operating as an ecosystem partner on the OpenRUN network.
• ExipaysecondaryTechnology or IntegrationPayment services ecosystem partner on the OpenRUN network.
• RainfinsecondaryTechnology or IntegrationFintech ecosystem partner on the OpenRUN network providing financial services.
• OneWalletsecondaryTechnology or IntegrationWallet services ecosystem partner providing regulated wallet services on the OpenRUN network.
• EcentricsecondaryTechnology or IntegrationEcosystem partner on the OpenRUN network.
• CxurrencysecondaryTechnology or IntegrationCurrency/fintech ecosystem partner on the OpenRUN network.
• NeonomadsecondaryTechnology or IntegrationEcosystem partner on the OpenRUN network.
• MPay DigitalsecondaryTechnology or IntegrationDigital payments ecosystem partner on the OpenRUN network.
• SMD WalletsecondaryTechnology or IntegrationWallet services ecosystem partner on the OpenRUN network.
• LightfusionsecondaryTechnology or IntegrationEcosystem partner on the OpenRUN network.
• Prepaid24secondaryTechnology or IntegrationPrepaid services ecosystem partner on the OpenRUN network.
• ZARPsecondaryTechnology or IntegrationSouth African fintech ecosystem partner on the OpenRUN network.
• UKESHEsecondaryTechnology or IntegrationEcosystem partner on the OpenRUN network.
• Pay at LohosecondaryTechnology or IntegrationPayment services ecosystem partner on the OpenRUN network.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Kinexys (JPMorgan Onyx): JPMorgan's institutional permissioned blockchain for tokenised deposits, payments and digital assets. Comparable to OpenRUN as an enterprise-grade regulated blockchain operated by a major financial institution, though Kinexys is single-bank rather than a multi-FSP shared ledger.
• Fireblocks: Institutional digital asset custody, wallet infrastructure, and policy controls used by banks and fintechs. Overlaps with BMA's regulated wallet infrastructure and key-management focus, though Fireblocks is custody-software-centric rather than a shared settlement ledger.
• BitGo: Qualified custodian offering institutional digital asset custody and wallet-as-a-service with policy controls. Directly comparable to BMA's Wallet-as-a-Service offering for licensed FSPs.

Direct peers

• Fnality: Multi-bank consortium building regulated payment utility settlement tokens on DLT, closely mirrored on BMA's settlement-token/Project Khokha II work. Both target wholesale CBDC and tokenised bank-deposit use cases with a consortium of regulated FSPs.
• R3 Corda: Enterprise DLT platform purpose-built for regulated financial institutions, with privacy and permissioning primitives similar in spirit to OpenRUN's KYC-NFT-gated tokens. Operates as shared infrastructure for capital markets and banking consortia.
• Hedera Hashgraph: Public permissioned DLT using hashgraph consensus for high-throughput enterprise tokenisation and token issuance. Comparable to OpenRUN's DAG-based, regulated-validator model with permissioned token services.
• SETL: Institutional DLT for tokenised fund units, securities and cash settlement among regulated market participants. Closely comparable to BMA's settlement-token and tokenised-debenture work in the SARB Project Khokha II context.

Emerging players

• Provenance Blockchain: Public blockchain purpose-built for real-world asset tokenisation with permissioned compliance and KYC primitives, directly comparable to BMA's tokenised RWA and Regulated Tokens offering.
• Polygon (PolygonzkEVM / Polygon CDK): EVM-compatible scaling/chain-development stack used by institutions to launch permissioned chains with tokenisation primitives. Comparable to OpenRUN's EVM-compatible regulated chain and enterprise development framework.

Regional players

• Stitch (by TymeBank / Fireblocks): South African-originated consumer payments and wallet service operating regulated rails for cross-border and merchant payments. Regionally overlaps with BMA in South Africa and neighbouring markets, though Stitch is consumer-facing rather than infrastructure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/block-markets-africa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Block Markets Africa