Ripple Partner Absa Brings Digital Asset Custody To Africa

Absa Corporate and Investment Banking has partnered with Ripple to launch an institutional digital asset custody platform in South Africa, marking a significant step for the continent's financial infrastructure.

Africa's First Major Institutional Custody Deal

Absa becomes Ripple's first major custody partner in Africa through this collaboration. Through the partnership, Absa will leverage Ripple's institutional-grade digital asset custody technology to deliver scalable and secure storage for tokenized assets, including cryptocurrencies. The platform is aimed squarely at institutional clients and is designed to meet strict governance and compliance requirements.

The partnership responds to the growing demand for secure, compliant digital asset infrastructure across emerging markets. According to Ripple's 2025 New Value Report, 64% of Middle East and Africa finance leaders see faster payments and settlement times as the biggest impetus for incorporating blockchain-based currencies into their cross-border payments flows.

Executive Voices and Broader Context

Reece Merrick, managing director for the Middle East and Africa at Ripple, said: "Africa is experiencing a major shift in how value is stored and exchanged, and our partnership with Absa underscores Ripple's commitment to unlocking the potential of digital assets on the continent."

Robyn Lawson, Head of Digital Product, Custody, Absa Corporate and Investment Banking, added: "As we continue to innovate and respond to the evolving financial ecosystem, we recognise the importance of providing our customers with secure, compliant, and robust custody solutions for their digital assets."

Ripple's expanding global custody network now includes clients across Europe, the Middle East, Asia-Pacific, Latin America, and Africa, supporting financial institutions as they embrace the opportunities presented by digital asset technology. Earlier this year, Ripple announced it was supporting Africa-based payments provider Chipper Cash with its crypto-enabled payments technology and also began the rollout of its US dollar-backed stablecoin, RLUSD, in Africa.

This partnership reflects a broader trend across Africa, where financial institutions are increasingly exploring blockchain solutions amid rising regulatory clarity. For Absa, the move positions it at the forefront of a fast-developing institutional digital asset market on the continent.

Sources:
Absa Corporate and Investment Banking: Official Partnership Announcement
The Fintech Times: Ripple Partners with Absa Bank
Ripple: Official Press Release