Absa Bank Secures Regulatory Approval for Institutional Digital Asset Custody in South Africa

Absa Bank has secured regulatory approval to launch its institutional digital asset custody service in South Africa. The banking group becomes the first on the African continent to operate this regulated infrastructure, tailored for asset managers, non-bank financial institutions, and corporate clients.

The initial portfolio supports four assets: Bitcoin (BTC), Ethereum (ETH), XRP Ledger (XRP), and the stablecoin USD Coin (USDC). According to Absa's report, Bitcoin accounts for the highest concentration among active corporate accounts during this phase.

Absa representatives noted that the initial roster of crypto assets is not final. The institution plans to submit further technical filings to expand the service across additional market segments by the end of 2026 and conditionally roll out into other continental jurisdictions upon securing local regulatory clearances.