Ripple has partnered with Absa Bank, one of South Africa’s largest financial institutions, to launch digital asset custody services for institutional clients, marking Ripple’s first major custody partnership in Africa.
Under the agreement, Absa will use Ripple’s institutional-grade custody technology to offer secure, compliant storage for tokenized assets, including cryptocurrencies. The move aligns with growing demand for regulated digital asset infrastructure across emerging markets.
“Africa is experiencing a major shift in how value is stored and exchanged,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa. “Our partnership with Absa underscores Ripple’s commitment to unlocking the potential of digital assets on the continent.”
Ripple’s custody platform meets strict operational and regulatory standards and already spans Europe, Asia-Pacific, and the Middle East. The Absa deal extends that reach to Africa, supporting broader adoption of tokenization and blockchain-based finance.
The partnership follows Ripple’s rollout of its USD-backed stablecoin, RLUSD, in Africa through partners Chipper Cash, VALR, and Yellow Card, offering institutions access to regulated dollar liquidity as blockchain adoption accelerates across the continent.
Image Credit: Pixabay
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