Nedbank Group has formed a strategic alliance with Crypto.com with a view to creating blockchain-based financial solutions that will be used to transform payments, settlements and liquidity management in Africa. The partnership is an important step toward aligning digital resources with conventional banking resources in the region.
📣 @Nedbank x https://t.co/vCNztATkNg – introducing a new partnership to drive blockchain-based innovation across Africa.
Leveraging https://t.co/vCNztATkNg’s blockchain infrastructure and digital asset capabilities, Nedbank will develop advanced payment, settlement and… pic.twitter.com/afebQVUaoo
— Crypto.com (@cryptocom) March 5, 2026
The project aims to establish a regulatory, blockchain-based payment system that has the potential to revolutionize the way individuals, businesses and financial organizations can make cross-border payments. Using Crypto.com’s digital asset infrastructure, Nedbank plans to offer faster and cheaper payment options with regulatory controls.
Addressing Africa’s payment and settlement challenges
International payments in much of Africa are still based on old banking systems. These systems can result in high transaction rates, slow settlement and currency risks. With increased trading activity on the continent and around the world, financial institutions are looking for options that provide a more efficient settlement method.
Nedbank aims to overcome these shortcomings through this partnership by integrating its traditional banking services with blockchain technology. It aims to develop a stable payment platform that can support cross-border financial flows more transparently and at lower operating costs.
Real-time conversion between Rand and digital dollars
One of the key features of the initiative is the ability to realize South African Rand into digital dollars using blockchain infrastructure. Customers will be able to smoothly replace ZAR with a stablecoin, the USD Coin or USDC, which is popular in the global digital asset markets.
The feature provides businesses with access to stable digital dollar liquidity to make trade payments, manage government bonds and conduct cross-border transfers. The system will enable the companies to settle transactions in near real-time through secure digital channels.
Nedbank and Crypto.com will also conduct daily net settlement processes to provide transparency of operations and regulatory compliance. The structure must be stable, yet able to enable the efficiency benefits of blockchain-based settlement.
Serving private, SME and business customers
With the help of Crypto.com, individual customers will first be introduced to the new system and then slowly transition to small and medium businesses and corporate customers. Both companies plan to launch the service gradually over the coming year as they deal with regulators and financial organizations.
If fully implemented, the collaboration would allow companies operating in Africa to handle digital dollars without necessarily having to rely entirely on conventional international banking intermediaries. This can facilitate trade between African markets and the rest of the world.
Industry observers point out that simplified access to digital liquidity could be of particular benefit to exporters, importers and other multinational companies that trade in more than one currency.
Supporting African trading and financial integration with Crypto.com
Nedbank reports that the project is in line with overall continental objectives to improve trade integration as part of the African Continental Free Trade Area. The bank plans to facilitate cross-border trade by creating blockchain-based payment systems, which would minimize dependence on third-party settlement systems.
The platform will be interoperable with existing banking systems and will enable traditional financial services to be compatible with new digital capabilities. The project developers also emphasize resilience in the face of potential disruption to global payment networks.
Simon Marland, Managing Executive, Automation, Blockchain and Analytics, Nedbank, explained the project as the foundation of a more modern financial ecosystem in Africa. He stressed that the integration of the best financial technologies into trade is essential for the continent’s future competitiveness.