- Ripple is expanding its digital asset custody services to Africa through a partnership with Absa Bank in South Africa.
- Absa Bank becomes Ripple’s first major institutional custody client in Africa.
- The partnership enables Absa to securely manage cryptocurrencies and tokenized assets for its clients using Ripple’s technology.
- The deal comes at a time of increasing regulatory clarity for digital assets in Africa.
- Ripple’s strategy includes providing blockchain infrastructure to regulated institutions in multiple regions.
Ripple announced a new agreement to provide its institutional digital asset custody technology to Absa Bank, a top South African financial institution. The partnership will allow Absa to store and manage cryptocurrencies and tokenized assets for its clients, making it Ripple’s first major custody client on the African continent.
The partnership provides Absa with Ripple’s digital asset infrastructure, letting the bank offer regulated and secure storage services as African digital asset regulations become clearer. Ripple stated that its custody product has already launched in Europe, Asia, and Latin America.
“Absa will use Ripple’s digital asset custody technology to store and manage cryptocurrencies and tokenized assets for its clients,” according to a Ripple press release. The release also states that this deal positions South Africa as one of the few African countries where a bank of this size offers cryptocurrency custody.
Ripple is working to build its network of institutional clients and expand services globally. Earlier this year, the company joined with Chipper Cash to enable crypto-powered payments in Africa and confirmed plans to roll out its U.S. dollar stablecoin, RLUSD, in African markets.
According to Ripple’s 2025 New Value Report, “64% of finance leaders in the Middle East and Africa see faster settlement and reduced transaction costs as the main reason to integrate blockchain-based currencies into payment flows.” Ripple also holds more than 60 regulatory licenses worldwide, supporting its ability to work with banks where regulatory caution remains high.
This agreement increases the presence of secure, compliant crypto solutions in the region, reflecting the rising demand for tokenized assets in Africa’s developing markets.
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