Ripple Brings Institutional Crypto Custody to Africa via Absa Bank Deal
Ripple is expanding its digital asset custody services to Africa, partnering with Absa Bank, one of South Africa’s top financial institutions. The agreement positions Absa as Ripple’s first major custody client on the continent, enabling the bank to securely manage cryptocurrencies and tokenized assets for institutional clients while ensuring compliance amid evolving regulatory frameworks.
The collaboration is part of Ripple’s broader strategy to provide blockchain infrastructure for regulated institutions. Its custody platform, launched earlier this year, is already active across Europe, Asia, and Latin America.
This partnership follows Ripple’s recent African expansion, including a collaboration with Chipper Cash for crypto-enabled payments and the planned launch of its USD-backed stablecoin, RLUSD, in African markets.
Ripple’s 2025 New Value Report highlights that 64% of finance leaders in the Middle East and Africa see blockchain adoption as a means to accelerate settlement and reduce transaction costs.
With over 60 regulatory licenses globally, Ripple offers a compliance advantage in markets where banks remain cautious about crypto. Once implemented, the Absa partnership will make South Africa one of the few African nations with a major bank-backed crypto custody solution.
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