One digital bank that has continued to achieve giant strides is Dafribank.
After months of preaching about the inevitability of the digital economy, the Chairman of the DafriGroup Plc, Ziggy Xolane Ndhlovu walked his talk when his bank, DafriBank Digital Limited made history as the first African company to issue its share through digital currency.
DafriBank’s digital share, $DBA, which went public at $1 per share, made it to an all-time high of $34 per share. Presently, it is being traded at $19.80 per share on Coin Market Cap (CMC).
Speaking about DafriBank’s leading role in crypto adoption in Africa, Catherine Anajemba, the bank’s managing director avowed: “Not only is DafriBank the first bank in Africa to issue its market share in digital currency we also recently launched a startup crypto exchange, DafriXchange Pro which has taken the industry by storm with DafriBank supported fiat offramp.”
Giving the rationale behind the launch of DafriXchange Pro, a crypto exchange with a presence in 180 countries including 50 African countries, Anajemba said: “The purpose of this move weighed heavily on conventional banks’ hostility towards crypto investors. We wanted to offer our customers an opportunity to tap into the crypto market, meaning that a DafriBank client with funds in a DafriBank account can easily fund their DafriXchange Pro wallet from their DafriBank online Banking cabinet.”
Continuing, she disclosed other recent strides by the bank. “We recently signed a strategic partnership agreement with one of the biggest commercial banks in (Nigeria) to co-brand and offer MasterCard credit and debit cards that will be spendable on a global scale. We have also partnered with Circle, a global financial technology firm, the issuer of the second-largest stable coin, USDC,” she stated.
She also added: “DafriBank Digital Ltd has been approached by Abuja-based Mutual Trust Microfinance Bank Limited, with a proposal for a partnership to co-launch a full-fledged commercial and digitally-focused bank in Nigeria.”