{"id":160977,"date":"2026-04-25T15:44:28","date_gmt":"2026-04-25T15:44:28","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment"},"modified":"2026-04-25T16:31:11","modified_gmt":"2026-04-25T16:31:11","slug":"credit-bank-pursues-approval-for-crypto-cross-border-payment","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment","title":{"rendered":"Credit Bank Pursues Approval for Crypto Cross-Border Payment"},"content":{"rendered":"
\n

What You Need to Know<\/h4>\n

Credit Bank is seeking approval from the Central Bank of Kenya to pilot crypto-based cross-border payment settlements. This initiative, in partnership with Anzens, aims to integrate stablecoins into mainstream banking, potentially positioning Credit Bank as a leader in East Africa’s financial innovation. If successful, it could significantly reduce transaction costs and settlement times for Kenyan<\/p>\n<\/div>\n

Africa-Press – Kenya. <\/strong> <\/span>Anzens Acting COO – Kristina Vancova, Credit Bank CEO Betty Korir and Yeshara Tokens Head of Business Development Jasmine Wairimu during the signing ceremony<\/p>\n

Businesses based in Kenya and operating across borders may soon use their banks to make payments in ccryptocurrencyshould a banking regulator approve a request by Credit Bank.<\/p>\n

The lender is seeking regulatory approval from the Central Bank of Kenya to pilot crypto-based payment settlements, a move that could position it as the first commercial bank in East Africa to integrate stablecoins into mainstream banking.<\/p>\n

The lender has partnered with crypto payment provider Anzens to explore the use of USDA, a dollar-backed stablecoin, in facilitating cross-border transactions.<\/p>\n

Credit Bank CEO Betty Korir said that by taping Anzens, the partnership will bring that capability to make the payments inside a regulated banking space.<\/p>\n

\u201cCredit Bank has always focused on providing our clients with the tools they need to compete internationally. Stablecoins are not speculative assets in this context; they are settlement infrastructure that can move value across borders in minutes instead of days, at a fraction of the cost.<\/p>\n

The move comes at a time that the National Treasury has stepped up efforts to formalize oversight of the country’s crypto sector, with the central bank and capital markets authorities expected to share oversight of the crypto sector.<\/p>\n

However, the initiative remains at an exploratory stage and will only proceed if the regulator gives the green light.<\/p>\n

Under the proposed model, customers of Credit Bank would be able to convert Kenyan shillings or US dollars into USDA and use it to settle international payments, before converting back into local currency at the destination.<\/p>\n

The bank would act as custodian of the funds, while the underlying blockchain infrastructure would operate in the background.<\/p>\n

\u201cKenya is home to one of the most innovative financial ecosystems in the world, yet businesses here still pay some of the highest cross-border payment fees globally while waiting days for settlement. We are not asking banks to become crypto companies,\u201d said Anzens CEO Shantnoo Saxsena.<\/p>\n

The move reflects a broader shift in Kenya\u2019s financial ecosystem, where businesses and individuals are increasingly turning to digital assets to bypass inefficiencies in traditional systems.<\/p>\n

Industry estimates indicate that Kenyans processed billions of dollars in stablecoin transactions in the year to mid-2024, driven by currency volatility, high remittance costs and the need for faster settlements.<\/p>\n

Across Africa, stablecoins now account for a significant share of crypto-related activity, suggesting growing demand for alternatives to conventional cross-border payment channels.<\/p>\n

However, most of this activity has taken place outside the formal banking system, raising concerns among regulators over consumer protection, money laundering and financial stability.<\/p>\n

Kenya has not yet fully integrated cryptocurrencies into its regulated financial system, and authorities have previously taken a cautious approach, warning lenders against direct exposure to digital assets.<\/p>\n

If approved, the model could significantly alter how Kenyan firms handle international trade payments.<\/p>\n

Small and medium-sized enterprises, which often face the highest transaction costs, stand to benefit from faster settlement times and potentially lower fees.<\/p>\n

This could improve cash flow and competitiveness, particularly for businesses importing goods or paying overseas suppliers.<\/p>\n

At the same time, the development could intensify competition in Kenya\u2019s payments space, where fintech firms and mobile money platforms have already disrupted traditional banking services.<\/p>\n

Kenya has been at the forefront of financial innovation in Africa, particularly with mobile money solutions like M-Pesa. However, the integration of cryptocurrencies into the formal banking system has been slow due to regulatory concerns. The Central Bank of Kenya has previously warned banks against direct exposure to digital assets, emphasizing the need for consumer protection and financial stability. As the demand for faster and cheaper cross-border payments grows, the potential approval of Credit Bank’s initiative could mark a significant shift in the country’s approach to digital currencies.<\/p>\n

Find more news and analyses on Kenya<\/span> on the Africa Press<\/span> website<\/p>\n","protected":false},"excerpt":{"rendered":"

What You Need to Know Credit Bank is seeking approval from the Central Bank of Kenya to pilot crypto-based cross-border payment settlements. This initiative, in partnership with Anzens, aims to integrate stablecoins into mainstream banking, potentially positioning Credit Bank as a leader in East Africa’s financial innovation. If successful, it could significantly reduce transaction costs […]<\/p>\n","protected":false},"author":84,"featured_media":160976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[3146,16128,6921,544,14772],"class_list":["post-160977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-credit-bank","tag-cross-border-payments","tag-cryptocurrency","tag-kenya","tag-stablecoins"],"yoast_head":"\nCredit Bank Pursues Approval for Crypto Cross-Border Payment - kenya<\/title>\n<meta name=\"description\" content=\"Credit Bank seeks Central Bank approval to test crypto payments, aiming to enhance cross-border transactions for Kenyan firms\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Bank Pursues Approval for Crypto Cross-Border Payment\" \/>\n<meta property=\"og:description\" content=\"Credit Bank seeks Central Bank approval to test crypto payments, aiming to enhance cross-border transactions for Kenyan firms\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-25T15:44:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-25T16:31:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2026\/04\/sm_1777134576.149884.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"856\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Credit Bank Pursues Approval for Crypto Cross-Border Payment\",\"datePublished\":\"2026-04-25T15:44:28+00:00\",\"dateModified\":\"2026-04-25T16:31:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment\"},\"wordCount\":725,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2026\/04\/sm_1777134576.149884.jpg\",\"keywords\":[\"Credit Bank\",\"cross-border payments\",\"Cryptocurrency\",\"Kenya\",\"stablecoins\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/credit-bank-pursues-approval-for-crypto-cross-border-payment\",\"name\":\"Credit Bank Pursues Approval for Crypto Cross-Border Payment - 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