African First to Offer Digital Asset Custody Services, 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 from South Africa and will provide custody, management, and transfer services for digital assets 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 at Absa's Corporate and Investment Banking division, stated that in the future, the service is expected to be expanded to other client groups in South Africa, and after obtaining regulatory approval, introduced to other African countries where the business operates.