Big-four bank Absa has entered into a strategic partnership with Ripple, a provider of digital asset infrastructure for financial institutions, to provide digital asset custody to its customers in South Africa.
In a statement, the bank says through the partnership, Absa will leverage Ripple’s digital asset custody technology to deliver storage for tokenised assets, including crypto-currencies.
Absa becomes Ripple’s first major custody partner in Africa through this collaboration, says the bank, adding that the partnership responds to the growing demand for secure, compliant digital asset infrastructure across emerging markets.
Ripple’s 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.
“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,” says Robyn Lawson, head of digital product for custody at Absa Corporate and Investment Banking.
“Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards. Together, we can deliver the next generation of financial infrastructure to our customers.”
According to Absa, as regulatory clarity around alternative investments increases across Africa, institutional interest in blockchain-based solutions is rising.
It notes that Ripple’s infrastructure enables financial institutions like Absa to confidently explore new digital asset offerings, while meeting strict security, operational and regulatory requirements.
“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,” says Reece Merrick, managing director of Middle East and Africa, at Ripple.
“As one of the most respected and innovative banks in Africa, Absa has a strong track record of innovation and leadership, and we’re proud to support its digital asset ambitions with the most secure and compliant custody infrastructure on the market.”
The new partnership between Absa and Ripple extends Ripple’s existing operations on the continent. Earlier this year, the company announced it is supporting Africa-based payments provider Chipper Cash with its crypto-enabled payments technology, as well as the arrival of its USD-backed stablecoin RLUSD in Africa.
Absa points out that Ripple is seeing increasing demand for its payments solution across Africa from crypto-native firms and traditional financial institutions.
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.
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