Ripple, Absa Launch Institutional Crypto Custody in SA
Fhumulani Lukoto
- 2 min read
Key Takeaways
Strategic Partnership: Ripple teams up with Absa Bank to provide institutional-grade crypto custody in South Africa, marking its first major initiative on the African continent.
Enhanced Security & Compliance: The collaboration enables Absa to offer secure, regulated digital asset storage for institutional clients, adhering to rigorous banking standards.
Boost to African Digital Finance: This move strengthens the adoption of blockchain-based financial services in Africa, supporting cross-border payments and the broader growth of the digital asset ecosystem.
Ripple has announced a strategic partnership with Absa Bank to introduce institutional-grade digital asset custody services in South Africa.
Overview
Ripple announced that Absa bank will offer its customers digital asset custody services relying on Ripple’s infrastructure for tokenised assets and cryptocurrencies. This collaboration marks Ripple’s first major custody initiative on the African continent, expanding its global footprint in the digital asset infrastructure space.
Ripple said,
“The partnership was a result of the growing demand for secure, compliant digital asset infrastructure across emerging markets.”
Absa Becomes Ripple’s First African Custody Partner
Under the terms of the agreement, Absa Bank will leverage Ripple’s secure and scalable custody technology to manage tokenised assets and cryptocurrencies for its institutional clients.
The move positions Absa as a pioneer in offering compliant and secure digital asset storage solutions in Africa. Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, emphasised that the partnership underscores Ripple’s commitment to unlocking the potential of digital assets on the continent.
Strategic Expansion into Africa’s Digital Asset Market
This partnership is part of Ripple’s broader strategy to expand its presence in emerging markets. In 2025, Ripple also partnered with Chipper Cash to enhance cross-border payments and introduced its RLUSD stablecoin in collaboration with VALR and Yellow Card. These initiatives reflect Ripple’s commitment to fostering the growth of digital finance across Africa.
Implications for the African Financial Landscape
The collaboration between Ripple and Absa Bank is expected to catalyse the adoption of blockchain-based financial services in Africa. As regulatory clarity around digital assets improves in countries like South Africa, Kenya, and Mauritius, financial institutions are increasingly exploring blockchain solutions to modernise payments, custody, and cross-border transactions.
This partnership positions Absa at the forefront of Africa’s digital finance landscape, allowing the bank to offer clients cutting-edge custody services that meet the rigorous standards required for institutional digital asset management.
Ripple’s expansion into Africa signifies a pivotal shift in how emerging markets are embracing blockchain-based financial infrastructure. The partnership with Absa Bank not only enhances Ripple’s global network but also underscores the growing demand for secure, compliant digital asset infrastructure in the region.
Ripple’s partnership with Absa Bank is a significant milestone in the evolution of digital asset custody in Africa, offering a glimpse into the future of secure and compliant blockchain-based financial services on the continent.
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Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.