Nedbank and Crypto.com launch blockchain payments in Africa

Nedbank and Crypto.com partner to launch blockchain-based payment and liquidity solutions in Africa, aiming to modernize financial services and improve cross-border transactions.

Nedbank has formed a strategic partnership with Crypto.com to introduce blockchain-based payment, settlement, and liquidity solutions across Africa. This collaboration seeks to modernize financial services by integrating Crypto.com’s digital asset infrastructure with Nedbank’s established banking systems. The initiative will enable real-time conversions between the South African rand and digital US dollars, enhancing digital liquidity for trade and remittance. The rollout will start with individual clients and expand to businesses within a year, pending regulatory approval. By addressing high transaction costs, currency volatility, and slow cross-border payments, the partnership offers faster, more transparent, and cost-effective solutions. This project supports the goals of the African Continental Free Trade Area and promotes financial integration and innovation across the continent.