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Home›Crypto›Market Structure›Absa becomes first African bank to custody bitcoin

Absa becomes first African bank to custody bitcoin

The Johannesburg-based lender plans to offer bitcoin custody for institutional clients, with additional digital assets to follow.

Reported · Written up by our desk · Market Structure

South Africa’s Absa has become the first African lender to custody bitcoin, according to Bitcoin Magazine, citing an earlier Bloomberg report.

The Johannesburg-based bank plans to serve institutional clients primarily with bitcoin custody, while other digital assets will also be included in the service.

Bitcoin Magazine also notes that Absa’s corporate and investment banking unit head of digital assets, Rob Downes, said bitcoin is the biggest asset the bank will custody, with additional assets expected to follow.

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Sources

Bitcoin MagazineSouth Africa’s Absa Becomes First Bank on the Continent to Custody Bitcoin: Report

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