absa

Caught the chain capture/Bloomberg: South Africa’s Absa Bank has obtained regulatory approval, becoming the first bank in Africa to offer institutional clients digital-asset custody—initially supporting BTC, Ethereum, XRP Ledger, and USDC. Its clients are mainly asset managers, non-bank financial institutions, and corporate accounts.

Rob Downes, the负责人, said that in the current custody portfolio Bitcoin has the highest share, and more coins will be added later according to clients’ needs. The bank is also looking at other African markets, but everything requires local regulators’ approval. By the end of 2024, the crypto assets held by South Africa’s three major licensed custody providers (Luno/VALR/Ovex) were about 25.3 billion rand (roughly $1.5 billion). Absa wants to get a piece of that.

Traditional banks are bringing custody, trading, and settlement in one by one, and in Africa, licensed banks are also starting to move in.

#Absa #加密托管 #BTC

🎯 Even African banks are also moving into crypto custody

📰 Absa becomes the first bank in Africa to offer digital asset custody, eyeing an institutional custody market worth about $1.5 billion—giving local institutions a new channel

💬 Traditional banks are no longer just bystanders; they’re starting to manage coins for institutions themselves. As custody gets deeper, another pipeline for institutions to enter has opened up

🏷️ #数字资产托管 #Absa #机构入场 #非洲 # Traditional finance