Nedbank Group said on Thursday it had entered a strategic partnership with Crypto.com to explore blockchain-based payment, settlement and liquidity solutions across Africa, in a move aimed at modernising cross-border financial transactions on the continent.
The South African bank said the collaboration would combine its banking infrastructure with Crypto.com’s digital asset platform to develop systems enabling real-time settlement and digital dollar liquidity for retail and corporate clients, subject to regulatory approvals.
Through the partnership, clients would be able to convert South African rand into the dollar-backed stablecoin USD Coin and back via secure digital channels, enabling faster cross-border payments and access to digital dollar liquidity for trade, remittances and treasury operations.
Africa’s financial system still relies heavily on traditional international payment rails, which often involve high fees, slow settlement times and exposure to currency volatility. Nedbank said blockchain infrastructure could help address those challenges by providing faster and more transparent settlement.
The bank added that the platform would support daily net settlement between Nedbank and Crypto.com, designed to maintain stability and regulatory oversight while allowing businesses and individuals to transact in digital dollars across African markets.
“Africa’s future competitiveness depends on how effectively we integrate modern financial technologies into trade and commerce,” Simon Marland, managing executive for automation, blockchain and analytics at Nedbank, said in a statement.
Crypto.com executive vice president Karl Mohan said the partnership reflected the growing demand for regulated access to digital assets across emerging markets.
“Africa represents one of the most dynamic frontiers for digital finance,” Mohan said.
The rollout will be implemented in phases over the next 12 months, beginning with individual clients before expanding to corporate customers, Nedbank said.
The initiative also aligns with broader regional trade integration efforts under the African Continental Free Trade Area, which aims to deepen intra-African commerce and improve cross-border financial infrastructure.
Founded in 2016, Crypto.com operates a global digital asset exchange and financial services platform used by millions of customers worldwide. Nedbank is one of Africa’s largest banking groups, with operations across southern Africa and international financial centres including London and Dubai.