Migodi-Auric Documentation

Partnership Overview #

ABSA Bank Zambia serves as the institutional banking backbone for the Migodi-Auric ecosystem. As one of Zambia's largest and most systemically important banks, ABSA provides the regulated clearing, settlement, and custody infrastructure that transforms the ecosystem's tokenized instruments from digital records into legally enforceable financial claims.

The ABSA relationship is not peripheral — it is load-bearing. Without ABSA's institutional settlement rails, Coop Coins and Coop Bars cannot be issued, AGD cannot be redeemed, and Believe Cash terminals cannot function as regulated financial access points.

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Institutional anchor: ABSA Bank Zambia's involvement provides the institutional credibility required for cooperative society onboarding, Bank of Zambia regulatory alignment, and international investor confidence in the Migodi-Auric commodity settlement process.

ABSA Roles in the Ecosystem #

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Commodity Settlement

ABSA clears all Coop Coin (gold) and Coop Bar (copper) settlements. When a cooperative delivers a commodity lot and Aurion mints tokens, the corresponding fiat payment flows to the cooperative via ABSA.

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Believe Cash Clearing

All 3,000 Believe Cash terminals operate on ABSA's transaction clearing infrastructure. Cash-in, cash-out, AGD load/unload, and cooperative payment distribution all route through ABSA.

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AGD Reserve Custody

ABSA holds the fiat and Coop Coin reserves that back the Afro Gold Dollar stablecoin in circulation. Reserve balances are available for Bank of Zambia audit review.

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Cooperative KYC

All cooperative societies must hold an ABSA Bank Zambia account before onboarding to Coop Pay Ltd. ABSA's KYC process provides independent identity verification for the ecosystem.

Instruments Cleared Through ABSA #

Instrument	ABSA Role	Currency
Coop Coins (COOP-AU-10G)	Settlement of gold cooperative deliveries	ZMW / USD
Coop Bars (COOP-CU-1KG)	Settlement of copper cooperative deliveries	ZMW / USD
Afro Gold Dollar (AGD)	Reserve custody; AGD redemption processing	ZMW / USD
Believe Cash Transactions	Terminal clearing; cash logistics funding	ZMW
Cooperative Payroll	Member payment distribution via terminal network	ZMW

Believe Cash Integration #

The Believe Cash terminal network operates as an ABSA-aligned financial access point network. Each terminal is registered with ABSA as a transactional endpoint, enabling:

ABSA account access — cooperative members can access their ABSA accounts directly at Believe Cash terminals
Cash deposit / withdrawal — fully ABSA-cleared, BOZ compliant
Interoperability — Believe Cash terminals interoperate with the broader Zambian banking system through ABSA's settlement network
Rural reach — ABSA's backing gives Believe Cash terminals the institutional standing required to operate in provinces where ABSA has limited physical branch presence

Last updated · March 2026