Ripple has announced a strategic partnership with Absa Bank to introduce institutional-grade digital asset custody services in South Africa.
This collaboration marks Ripple’s first major custody initiative on the African continent, aiming to provide secure and compliant storage solutions for tokenized assets, including cryptocurrencies.
Absa Bank, one of Africa’s leading financial institutions, will leverage Ripple’s advanced custody technology to offer scalable and secure storage for digital assets. This move comes in response to the growing demand for reliable digital asset infrastructure across emerging markets.
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.
Reece Merrick, Managing Director for the Middle East and Africa at Ripple, emphasized the significance of the partnership, stating, “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.”
He further noted that Absa’s strong track record of innovation and leadership aligns well with Ripple’s secure and compliant custody infrastructure.
As regulatory clarity around alternative investments increases across Africa, institutional interest in blockchain-based solutions is rising.
Ripple’s infrastructure enables financial institutions like Absa to confidently explore new digital asset offerings while meeting strict security, operational, and regulatory requirements.
The partnership between Ripple and Absa extends Ripple’s existing operations on the continent.
Earlier this year, Ripple 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.
Ripple is seeing increasing demand for its payments solution across Africa from both crypto-native firms and traditional financial institutions.
According to Ripple’s 2025 New Value Report, 64% of Middle East and Africa (MEA) finance leaders see faster payments and settlement times as the biggest impetus for incorporating blockchain-based currencies into their cross-border payments flows.
Thanks to its simple, secure, compliant digital asset infrastructure, Ripple is well-positioned to provide the core services that financial institutions need to store, exchange, and move digital assets.
Ripple has over a decade of experience in the digital asset space and holds 60+ regulatory licenses and registrations in various jurisdictions. This partnership signifies a pivotal moment in Africa’s digital asset journey,