ZA Bank has launched banking services for stablecoin issuers, in part of their ‘Banking for Web3’ initiative.
The bank will offer security for fiat reserves, working towards establishing more services for the Web3 ecosystem. In 2023, ZA Bank onboarded over 100 Web3 businesses, and gained over $1 billion in transfer turnover from Web3 clients.
Alternate chief executive of ZA Bank, Devon Sin, commented: “Our commitment to stablecoin issuers is a testament to our dedication to the Web3 ecosystem. The past year has seen ZA Bank emerge as the unrivalled pioneer in Web3 banking. With our new dedicated client accounts, we are tackling the unique challenges of stablecoin issuers head-on, promoting the growth and stability of the Web3 economy.”