The move positions the bank as a key gateway for secure, regulated digital‑asset finance on the continent. The collaboration aims to enhance transparency, reduce transaction times and increase efficiency in cross‑border payments, traditionally hampered by slow settlement systems and high costs.
Speaking to Channel Africa on Thursday, Simon Marland, Nedbank’s Managing Executive for Automation, Blockchain and Analytics, said the partnership represents a shift towards modernising financial infrastructure while maintaining strong regulatory safeguards.
“Think of legacy banking systems as an old highway. Blockchain is a new highway running alongside it,” Marland explained. “Our strategy is to build safe, compliant on‑ and off‑ramps between those two highways so we can navigate speed versus risk, regulation and compliance.”
Marland highlighted significant opportunities in the cryptocurrency and blockchain ecosystem, particularly in cross‑border transactions. “Sending money from South Africa to another African country can take three or four days. With blockchain technology, this could be done in minutes,” he said, emphasising that regulatory compliance remains essential.
Other opportunities include streamlining treasury operations, improving dollar liquidity flows between banks and introducing blockchain‑based solutions to support sectors such as agriculture. Nedbank is exploring ways to tokenise agricultural outputs to improve payments and financing access for farmers.
Marland acknowledged concerns around volatility and regulation in the crypto space but stressed that Nedbank is embracing blockchain as a technology rather than focusing on speculative digital assets. “Regulation has been catching up,” he noted, referring to measures such as South Africa’s CASP licensing framework and growing global oversight. “The last few years have shaken out many of the shady players.”
He added that while public perceptions often equate blockchain solely with buying and selling Bitcoin, Nedbank’s focus is on the underlying technology as a tool to enhance speed, security and transparency in financial services. The bank sees blockchain as a catalyst for modernising Africa’s financial landscape while adhering to strict governance standards. “It is really about speed and efficiency, and transparency and security,” Marland said.
–ChannelAfrica–
