Nedbank, through a strategic partnership with Crypto.com, will use blockchain technology and digital assets to develop advanced payment, settlement and liquidity solutions across Africa, subject to compliance with the necessary regulatory requirements.
As global trade and financial ecosystems evolve, Africa’s dependence on legacy payment rails has introduced challenges – including high settlement costs, currency volatility, and geopolitical exposure.
Nedbank plans to establish a compliant, blockchain-enabled payment infrastructure that enhances resilience while integrating seamlessly with traditional banking systems.
Through Crypto.com’s digital asset platform and blockchain settlement technology, Nedbank aims to bridge traditional banking and digital finance — offering real-time, low-cost, and secure settlement options in both South African rand (ZAR) and on-chain US dollars (USDC).
The initiative will enable Nedbank to serve both retail and commercial banking clients, addressing the growing demand for modern financial solutions. Clients will be able to:
* Seamlessly convert between ZAR and USDC in real time via secure digital channels.
* Access digital dollar liquidity for trade, remittance, and treasury operations.
* Benefit from daily net settlement between Nedbank and Crypto.com, ensuring stability, transparency, and regulatory oversight.
The collaboration means businesses will be able to transact in digital dollars across Africa, facilitating trade, investment, and payment flows without having to rely on traditional international intermediaries.
Subject to applicable legal and regulatory requirements, the rollout will be implemented in phases, starting with individual clients and extending to juristic entities over the next 12 months.
Simon Marland, managing executive for automation, blockchain and analytics at Nedbank, comments: “Africa’s future competitiveness depends on how effectively we integrate modern financial technologies into the heart of trade and commerce.
“By leveraging Crypto.com’s blockchain capabilities, Nedbank is building the foundation for a more resilient, inclusive, and future-ready financial ecosystem – one where South African and African businesses can transact seamlessly and securely on a global scale.”
Karl Mohan, executive vice-president: financial services and GM, international of Crypto.com, adds: “Our collaboration with Nedbank underscores Crypto.com’s commitment to expanding financial access through blockchain innovation.
“Africa represents one of the most dynamic frontiers for digital finance, and by working with a trusted institution like Nedbank, we can jointly enable secure, compliant, and efficient access to digital assets for businesses and individuals alike.”
Herman de Kock, managing executive at Nedbank Mid Corporate, says: “Nedbank understands that businesses require easy payment and trade capabilities both domestically and cross-border. By partnering with Crypto.com, we’re driving innovation that directly responds to our clients’ evolving needs, enabling them to achieve their growth ambitions.”