Credit Bank is looking into working with the fintech company Anzens to add a stablecoin backed by the dollar to its banking services.
The initiative is currently in an exploratory phase and subject to regulatory engagement with the Central Bank of Kenya and seeks to assess how regulated stablecoin infrastructure can complement traditional international payment systems.
USDA, a stablecoin backed by the dollar that Anzens issues, is at the heart of the partnership. Unlike typical crypto offerings, USDA would function as embedded payments infrastructure within Credit Bank’s ecosystem.
Customers would be able to convert Kenyan shillings or US dollars into USDA and back, directly from their bank accounts. Cross-border payments could then be settled at a flat 1.5% fee. This is significantly lower than traditional channels.
Transactions would still originate from standard bank accounts, with automatic currency conversion at the receiving end.
Credit Bank would also act as custodian of both fiat and digital funds. With this, it will effectively bridge regulated banking with blockchain-based settlement.
Anzens CEO Shantnoo Saxsena says:
“A business in Nairobi trading with suppliers in Mumbai or Dubai should not pay 8% in fees and wait a week for payment to clear. With Credit Bank, that same transaction settles in minutes at 1.5%.”
The move comes as stablecoin usage grows rapidly across Kenya and the wider African market.
Despite growing demand for stablecoins, integration with regulated banking systems has remained limited.
Credit Bank CEO Betty Korir framed the partnership as a shift in how stablecoins are positioned:
“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.”
The initiative also extends into tokenised real-world assets through collaboration with Yeshara, which operates under a regulatory sandbox approved by the Capital Markets Authority.
Under this framework, USDA could be used as a payment method for tokenised real estate and commodities, with Credit Bank acting as custodian.
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