ABSA Bank Kenya Director Says Crypto Custody Will Expand into Trading and Lending
A senior ABSA Bank Kenya executive says the lender's digital-asset custody service is set to grow into additional offerings, as ABSA Group becomes the first African bank to offer institutional crypto custody.
AfroEuropa Newsroom
AfroEuropa desk
ABSA Bank Kenya expects its digital-asset custody service to serve as a foundation for a broader set of offerings, according to Wambere Mambo, the bank's Director of Global Markets.
Mambo said that holding a digital-format custody asset could lead to services such as trading and lending, as reported by BitKE. He added that such securities could be used to provide funding and to support treasury solutions, describing the value of a digital asset class as extending beyond simple storage to the additional services that can be built around it.
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