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Ripple Partners With Absa Bank to Launch Digital Asset Custody in South Africa
- Ripple has partnered with Absa Bank to launch institutional digital asset custody services in South Africa, its first major custody partnership in Africa.
- The collaboration enables Absa to provide secure, compliant, and scalable storage for tokenised assets and cryptocurrencies using Ripple’s custody technology.
- The deal marks Ripple’s expanding footprint in Africa, reinforcing the region’s growing role in blockchain adoption and the convergence of traditional finance with digital assets.
Ripple has announced a partnership with Absa Bank to provide digital asset custody services to customers in South Africa, marking the company’s first major custody collaboration in Africa. Under the agreement, Absa will use Ripple’s institutional-grade custody technology to offer secure and scalable storage for tokenised assets, including cryptocurrencies.
The partnership responds to rising institutional demand for compliant and secure digital asset infrastructure across emerging markets, with Africa identified as a rapidly growing region for blockchain adoption. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, said the collaboration “underscores Ripple’s commitment to unlocking the potential of digital assets on the continent”. He described Absa as one of Africa’s most innovative banks and highlighted its reputation for leadership in digital innovation.
Related: Ripple Expands RLUSD Stablecoin to Africa Through New Institutional Partnerships
Powering Digital Innovation in Africa
Robyn Lawson, Head of Digital Product, Custody at Absa Corporate and Investment Banking, said the bank aimed to “provide our customers with secure, compliant, and robust custody solutions for their digital assets”. Lawson added that Ripple’s infrastructure meets the highest standards for security and operations, allowing Absa to build next-generation financial services.
Ripple’s technology will enable Absa to explore blockchain-based offerings while maintaining regulatory and operational compliance. The move follows Ripple’s expansion in Africa, including its partnership with payments provider Chipper Cash and the introduction of its USD-backed stablecoin RLUSD on the continent. Ripple now holds over 60 regulatory licences worldwide, underscoring its ability to deliver trusted custody solutions.
This partnership is viewed as a significant step in aligning traditional banking with digital asset innovation in South Africa. It positions Ripple as a key infrastructure provider for institutions seeking secure access to blockchain technology, while enhancing Absa’s capacity to serve clients across Africa with regulated crypto custody services.
Related: Ripple’s J. Ayo Akinyele Champions Privacy-First Future for the XRP Ledger
Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
