South Africa Pilot Project Closure
In 2023, the Stellenbosch community embraced the opportunity to take climate action by choosing to spend in toco. By doing so, Stellenbosch became the first town globally to demonstrate that collective action is possible, and that people can rally together to solve the climate crisis.
While exploring the operational requirements for Toco’s global expansion, we were confronted with a challenge: South Africa was greylisted earlier this year by the Financial Action Task Force (FATF). As the Toco payment system is regulated under Swiss law, this sadly means that we have no choice but to stop operating in South Africa.
Toco's global expansion will allow communities around the world to take climate action. This is all thanks to you, the community of Stellenbosch. You have shown the rest of the world what is possible. Thank you for your passionate belief and unwavering support.
What does this mean for you?
We know that this has practical implications for you, so here’s what you need to know.
We will be making payments for any Toco that you’re holding in your wallet – you can sell Toco directly from your app, please refer to the below T&Cs for selling Toco:
- There is a 1% transaction fee to sell your Toco, this is automatically applied when you submit your sell request in the app
- Sadly, no gifted or promotional Toco can be sold
- As a Swiss-compliant financial intermediary, we are obliged to meet minimum KYC requirements and you may be requested to provide updated documents before a sell request can be processed
You will be able to send or receive Toco until 6 November 2023 only
You will be able to sell any Toco that you have bought or received from friends or family until 30 November 2023
The Toco app will be deactivated in South Africa on 30 November 2023, thereafter Toco will no longer be available for use in South Africa
How to sell toco
Click below to access step-by-step instructions on how to sell toco until 30 November 2023:
Send us an email at firstname.lastname@example.org