Absa Bank and Ripple, the top supplier of digital asset infrastructure for financial institutions, announced a strategic alliance on Monday to offer digital asset custody to Absa Bank’s South African clients.
Absa will use Ripple’s institutional-grade digital asset custody technology to provide scalable and secure storage for tokenised assets, including cryptocurrencies.
One of the top financial companies in Africa, Absa, joins Ripple as its first significant custody partner on the continent. This collaboration was prompted by the increased need for safe, legal digital asset infrastructure in emerging markets.
As financial institutions embrace the opportunities offered by digital asset technology, Ripple’s growing global custody network now serves clients in Europe, the Middle East, Asia-Pacific, Latin America, and Africa.
“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,” said Reece Merrick, Managing Director, Middle East and Africa, at Ripple.
“As one of the most respected and innovative banks in Africa, Absa has a strong track record of innovation and leadership, and we’re proud to support its digital asset ambitions with the most secure and compliant custody infrastructure on the market.”
Financial institutions’ interest in blockchain-based solutions
Institutions are becoming more interested in blockchain-based solutions as alternative investment regulations become clearer throughout Africa. Financial institutions like Absa can confidently explore new digital asset offerings thanks to Ripple’s infrastructure, which satisfies stringent operational, security, and regulatory requirements.
“As we continue to innovate and respond to the evolving financial ecosystem, we recognise the importance of providing our customers with secure, compliant, and robust custody solutions for their digital assets,” said Robyn Lawson, Head of Digital Product, Custody at Absa Corporate and Investment Banking.
“Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards. Together, we can deliver the next generation of financial infrastructure to our customers.”
Ripple’s partnership expansion with Absa Bank
The new partnership with Absa expands Ripple’s current operations on the continent. Earlier this year, Ripple declared that it would bring its USD-backed stablecoin, RLUSD, to Africa and assist Chipper Cash, a payments provider based in Africa, with its crypto-enabled payments technology.
In Africa, Ripple is witnessing a rise in demand for payment solutions from both traditional financial institutions and crypto-native businesses. Faster payments and settlement times are cited by 64 per cent of Middle East and Africa (MEA) finance leaders as the primary driver for integrating blockchain-based currencies into their cross-border payments flows, per Ripple’s 2025 New Value Report.
Ripple’s straightforward, safe, and compliant digital asset infrastructure puts it in a good position to offer the essential services required by financial institutions for the storage, exchange, and transportation of digital assets.
With more than 60 regulatory licenses and registrations across multiple jurisdictions, Ripple has more than ten years of experience in the digital asset space.