Absa Kenya is exploring how crypto custody could support future trading, lending and treasury services as the bank looks to expand its digital asset capabilities.
Wambere Mambo, Director of Global Markets at Absa Bank Kenya, said digital asset custody could create opportunities for additional financial services beyond the secure storage of cryptocurrencies.
“When you have a custody asset that has a digital format, it is going to evolve into other services, be it trading, be it lending,” Mambo said.
She added that digital assets could also support funding and treasury solutions, highlighting the potential for banks to build more services around assets held in digital form.
Absa Explores Crypto Services Beyond Custody
Digital asset custody allows financial institutions to safeguard and manage cryptocurrencies on behalf of clients. It can also provide the infrastructure needed for other financial services involving digital assets.
According to Mambo, holding these assets could create opportunities for trading, lending and funding solutions.
These services could appeal to institutional clients seeking ways to manage digital assets within established banking structures. However, Absa has not announced a launch date for crypto trading or lending services in Kenya.
Absa Already Offers Crypto Custody in South Africa
The comments follow Absa Group’s launch of its institutional digital asset custody service in South Africa in September 2026.
The service uses technology from Ripple and provides institutional clients with digital asset safekeeping, administration and transfer services.
Absa currently targets clients such as asset managers, corporates and non-bank financial institutions. The service operates within a regulated banking environment and is not a retail cryptocurrency trading product.
The bank has also indicated that it is exploring opportunities to extend digital asset custody to other African markets, subject to regulatory approval and client demand.
Kenya’s Crypto Regulations Remain Important
Any expansion of Absa’s digital asset services into Kenya will depend on the country’s regulatory framework.
Kenya has been developing rules for virtual asset service providers, with the authorisation process expected to shape how digital asset businesses operate in the market.
Regulatory clarity will be important for banks considering services involving cryptocurrency custody, trading and lending.
For now, Mambo’s comments signal potential opportunities for Absa to expand its digital asset offerings. However, the bank has yet to confirm when or whether it will introduce these additional services in Kenya.
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Editorial Takeaway
Absa’s plans highlight how crypto custody could become a foundation for broader financial services in Africa. Trading, lending and treasury solutions may create new opportunities for institutional clients. However, regulatory approval and market readiness will help determine how quickly these services become available across African markets.
