DafriBank has favourable crypto policy ― Catherine Anajemba

In order to stave off any misconception concerning DafriBank, the management of the new digital bank have stated categorically that it is not a crypto institution. This clarification was made by the bank’s managing director, Catherine Anajemba who stated: “DafriBank is not a crypto company, but rather a bank with a favourable policy on digital currency.”

Explaining further, she said: “We see digital currency as the future. This explains the reason why our share (DBA) was offered in digital currency. A purchase of DBA is equivalent to owning a stake in DafriBank Digital. On the other hand, DafriXchange operates as a separate crypto exchange entity. DafriBank and DafriXchange are two different companies owned by DafriGroup PLC.”

Nonetheless, customers of the new digital bank can buy, store, stake or sell crypto in their accounts. Though registered as a public company in South Africa, Nigeria and Botswana, the service of DafriBank Digital, which is part of the DafriGroup PLC, services global clients and customers.

Shedding light on why it is inevitable for DafriBank to consider cryptocurrencies, Anajemba said: “Crypto isn’t going anywhere, and it is clear that in due time, businesses and governments will get used to it. The world has gone digital in many ways, currency cannot be an exception. So the sooner we get on the bandwagon the better, otherwise, we all risk losing out on the value proposition this technology is offering.”

She added: “While there has been a lot of worries about the cryptocurrency market, so far, cryptos have proven critics wrong. Aside from the obvious truth that crypto is much more energy-efficient than the financial market, we have also seen its anti-inflationary characteristics, and we have seen also how the supporters of this technology have profited.”