Absa Group has received regulatory approval from South Africa, becoming the first bank in Africa to provide digital asset custody services

Absa Group has been approved by South African regulators to provide secure custody, management, and transfer services for digital assets to institutional clients in South Africa. Currently, it supports Bitcoin XRP Ledger、 Ethereum and USDC, with plans to expand to other assets. Rob Downes, head of digital assets at Absa's Enterprise and Investment Banking division, stated that it is expected to expand its services to other customer groups in South Africa in the future and introduce them to other African countries where its business is located after obtaining regulatory approval. (Source: Bloomberg)