South African bank Absa has become the first African lender to custody bitcoin, according to reports. 

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. A number of U.S. and European banks have started offering crypto-related services by custodying assets for institutions.

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,…

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