Africa's first to provide digital asset custody services, Absa receives regulatory approval in South Africa

Odaily Planet Daily News Absa Group has become the first bank in Africa to provide digital asset custody services. The bank has received regulatory approval in South Africa and will provide custody, management and transfer services of digital assets to South African institutional clients. It currently supports Bitcoin, XRP Ledger, Ethereum and USDC, and plans to expand to other assets. Rob Downes, head of digital assets at Absa's corporate and investment banking division, said it expects to expand the service to other client groups in South Africa in the future and introduce it to other African countries subject to regulatory approval.