KEY TAKEAWAYS
- Ripple partners with Absa Bank to offer digital asset custody services in South Africa, marking its first major custody partnership in Africa.
- Absa Bank will use Ripple’s technology to provide secure storage solutions for tokenized assets, addressing the growing demand for digital asset infrastructure.
- This partnership highlights Ripple’s commitment to expanding its operations in Africa and supporting the continent’s shift towards digital asset adoption.
Ripple, a leading provider of digital asset infrastructure, has announced a strategic partnership with Absa Bank to offer digital asset custody services in South Africa. This collaboration marks Ripple’s first major custody partnership in Africa, as detailed here.
Through this partnership, Absa Bank will utilize Ripple’s institutional-grade digital asset custody technology to provide secure and scalable storage solutions for tokenized assets, including cryptocurrencies. This move is in response to the increasing demand for secure and compliant digital asset infrastructure in emerging markets.
Reece Merrick, Managing Director for the Middle East and Africa at Ripple, emphasized the significance of this partnership, stating, “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.”
As regulatory clarity around alternative investments grows in Africa, institutional interest in blockchain-based solutions is on the rise. Ripple’s infrastructure enables financial institutions like Absa to explore new digital asset offerings while adhering to strict security, operational, and regulatory standards.
Robyn Lawson, Head of Digital Product, Custody at Absa Corporate and Investment Banking, highlighted the importance of this development, noting that Ripple’s custody solution allows Absa to leverage proven technology that meets high security and operational standards.
This partnership extends Ripple’s operations in Africa, following its support for Africa-based payments provider Chipper Cash and the introduction of its USD-backed stablecoin RLUSD in the region. Ripple’s 2025 New Value Report indicates that 64% of finance leaders in the Middle East and Africa view faster payments and settlement times as key drivers for adopting blockchain-based currencies in cross-border payments.
With over a decade of experience in the digital asset space and more than 60 regulatory licenses and registrations, Ripple is well-positioned to provide the necessary infrastructure for financial institutions to store, exchange, and move digital assets securely.
Why This Matters: Impact, Industry Trends & Expert Insights
Ripple’s partnership with Absa Bank to provide digital asset custody services in South Africa marks a pivotal step in expanding blockchain infrastructure in Africa. This collaboration highlights the growing institutional interest in secure and compliant digital asset solutions in emerging markets.
A Chainalysis report indicates that digital asset custody in Africa is experiencing rapid growth, driven by increased crypto adoption, maturing regulatory frameworks, and institutional interest. This aligns with Ripple’s move to provide digital asset custody services in South Africa, leveraging the continent’s evolving financial ecosystem.
As per insights from Yellow Card, institutions selecting a custody partner in Africa are advised to prioritize security, regulatory compliance, insurance, and integration capabilities. This supports Ripple’s strategic partnership with Absa Bank, emphasizing the importance of secure and compliant custody solutions in Africa’s growing digital asset landscape.
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