Africa's first digital asset custody service, Absa receives South African regulatory approval

Odaily News: Absa Group has become the first bank in Africa to offer digital asset custody services. The bank has received regulatory approval in South Africa and will provide digital asset safekeeping, management, and transfer services to institutional clients in South Africa. It currently supports Bitcoin, XRP Ledger, Ethereum, and USDC, with plans to expand to other assets. Rob Downes, Head of Digital Assets in Absa's Corporate and Investment Banking division, said that in the future the service is expected to be expanded to other client groups in South Africa, and after obtaining regulatory approval, it will be introduced to other African countries where the bank operates.