South Africa’s Absa Becomes First Bank on the Continent to Custody Bitcoin: Report

What happened

and European banks have started offering crypto-related services by custodying assets for institutions. As reported first by Bloomberg on Friday, the Johannesburg-based lender will serve institutional clients, mostly by custodying bitcoin — but other digital assets will also be a part of the service.

Banks worldwide are integrating or offering bitcoin-related products and services. JUST IN: Absa has become the first African bank to offer Bitcoin custody pic.twitter.com/JaDza3S7Ez — Bitcoin Magazine (@BitcoinMagazine) October 2, 2026 Rob Downes, head of digital assets at Absa’s corporate and investment banking unit, was quoted saying that while bitcoin was the biggest asset the bank would custody, others would follow.

Absa did not immediately respond to questions from Bitcoin Magazine. The African continent has a large crypto-native base, with data firms frequently highlighting the high adoption — particularly in countries where currencies have been significantly debased.