Nedbank and Crypto.com Join Forces to Build Blockchain Payment Infrastructure Across Africa

TLDR:

• Nedbank and Crypto.com have partnered to build blockchain-based payment and settlement solutions across Africa. 
• Clients will access real-time ZAR and USDC conversions alongside digital dollar liquidity for trade and remittance. 
• The phased rollout begins with individual clients before extending to businesses within the next twelve months. 
• The initiative aligns with AfCFTA objectives and supports South Africa’s role in digital financial transformation.

Nedbank has announced a strategic partnership with Crypto.com to develop blockchain-based payment, settlement, and liquidity solutions across Africa.

The collaboration aims to bridge traditional banking with digital finance. It will offer real-time, low-cost settlement in South African rand and on-chain U.S. dollars.

Subject to regulatory compliance, the rollout will begin with individual clients before extending to businesses over the next twelve months.

Blockchain Solutions to Address Africa’s Legacy Payment Challenges

Africa’s financial system has long depended on legacy payment infrastructure. This dependence has contributed to high settlement costs, currency volatility, and geopolitical exposure.

The Nedbank and Crypto.com partnership seeks to address these challenges directly. Blockchain technology offers a more resilient and cost-effective alternative for the region.

Through Crypto.com’s digital asset platform, Nedbank will enable real-time ZAR and USDC conversions. Clients will also gain access to digital dollar liquidity for trade, remittance, and treasury operations.

Daily net settlement between both institutions will ensure transparency and regulatory oversight. Both retail and commercial banking clients will benefit from these services.

Crypto.com shared the announcement on X, noting that the partnership would harness its blockchain infrastructure and digital asset capabilities.

Nedbank will use these tools to develop advanced payment and settlement solutions across the continent. The collaboration covers services for both individual and corporate clients.

Simon Marland, Managing Executive for Automation, Blockchain and Analytics at Nedbank, addressed the initiative directly. He said, “Africa’s future competitiveness depends on how effectively we integrate modern financial technologies into the heart of trade and commerce.”

Marland added that Nedbank is “building the foundation for a more resilient, inclusive, and future-ready financial ecosystem.” Businesses across Africa, he noted, will be able to transact seamlessly and securely on a global scale.

Establishing a Compliant and Interoperable Payment Backbone for Africa

Karl Mohan, EVP of Financial Services and GM International at Crypto.com, also weighed in on the collaboration. He stated, “Africa represents one of the most dynamic frontiers for digital finance.”

Mohan further noted that working with Nedbank will “enable secure, compliant, and efficient access to digital assets for businesses and individuals alike.”

The partnership, he added, reflects Crypto.com’s commitment to expanding financial access through blockchain innovation.

Herman de Kock, Managing Executive of Nedbank Mid Corporate, reinforced the business case for the partnership. He said, “Nedbank understands that businesses require easy payment and trade capabilities both domestically and cross-border.”

De Kock further noted that the collaboration with Crypto.com is “driving innovation that directly responds to our clients’ evolving needs.” This, he added, will enable clients to achieve their growth ambitions.

The partnership also aligns with the objectives of the African Continental Free Trade Area. It further supports South Africa’s leadership role in digital financial transformation.

The blockchain-enabled infrastructure will remain fully compliant with domestic and cross-border regulatory frameworks. It will also operate alongside existing financial systems without disruption.

The phased rollout will commence with individual clients in the near term. Juristic entities will follow within the next twelve months, subject to regulatory requirements.

This gradual approach ensures compliance at each stage of implementation. It also allows both institutions to manage risk carefully throughout the process.

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