Ripple, the digital asset infrastructure provider, partnered with Absa Bank, one of Africa’s largest financial institutions, to provide institutional digital asset custody services to the bank’s customers in South Africa. Through the partnership, Absa will use Ripple’s enterprise-grade custody technology to deliver secure and scalable storage for tokenised assets, including cryptocurrencies.
The agreement marks Ripple’s first major custody partnership in Africa, expanding its global network which already includes clients across Europe, the Middle East, Asia-Pacific, and Latin America. The move comes as institutional demand for compliant digital asset infrastructure increases across emerging markets.
Meeting the demand for institutional-grade infrastructure
As regulatory clarity around alternative investments grows across Africa, institutional interest in blockchain-based solutions is rising. Ripple’s infrastructure is designed to enable financial institutions like Absa to 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,” said Reece Merrick, managing director for the 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.”
Robyn Lawson, head of digital product, custody at Absa corporate and investment banking, commented on the bank’s strategy: “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 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.”
A broader regional strategy for Ripple
The new custody partnership with Absa extends Ripple’s existing operations on the continent. Earlier this year, the company announced it was supporting Africa-based payments provider Chipper Cash with its crypto-enabled payments technology. It also began the rollout of its US dollar-backed stablecoin, RLUSD, in Africa.
According to Ripple’s 2025 New Value Report, 64 per cent of finance leaders in the Middle East and Africa see faster payments and settlement times as the biggest driver for incorporating blockchain-based currencies into their cross-border payment flows.
Ripple stated its solutions are designed to provide the core services that financial institutions need to store, exchange, and move digital assets. The company holds over 60 regulatory licenses and registrations in various jurisdictions globally.
