Ripple, the blockchain payment solutions provider, has partnered with Absa Bank, one of South Africa's largest financial institutions, to launch its first digital asset custody service in Africa. The collaboration will enable Absa to offer secure, compliant storage for tokenized assets, including cryptocurrencies, using Ripple's institutional-grade custody technology. This marks Ripple's first major custody partnership on the continent and expands its global network, which already spans Europe, the Middle East, Asia-Pacific, and Latin America, as reported by Coinpedia.
Reece Merrick, Ripple's Managing Director for the Middle East and Africa, emphasized the strategic importance of the deal, stating, "Africa is experiencing a major shift in how value is stored and exchanged. Our partnership with Absa underscores Ripple's commitment to unlocking the potential of digital assets on the continent." Absa, which serves over 12 million customers across ten countries, will integrate Ripple's technology to provide scalable and secure custody solutions, meeting rising demand for compliant digital infrastructure, according to a Zawya press release. Robyn Lawson, Head of Digital Product, Custody at Absa, added that the partnership aligns with the bank's innovation goals, allowing it to leverage "proven and trusted technology that meets the highest security and operational standards," according to Cryptotimes.
The partnership builds on Ripple's existing African initiatives, including collaborations with payments firm Chipper Cash and the rollout of its USD-backed stablecoin, RLUSD, across the region. According to Ripple's 2025 New Value Report, 64% of finance leaders in the Middle East and Africa view faster payments and settlement times as a primary driver for adopting blockchain-based currencies, as noted by Coinpedia. Sub-Saharan Africa, in particular, has seen significant growth, with over $205 billion in on-chain crypto transactions between July 2024 and June 2025, reflecting a 52% annual increase, according to a Yellowcard report.
Regulatory clarity is also fueling institutional interest in digital assets. Kenya's recent passage of the Virtual Asset Service Providers (VASP) Bill, which establishes a legal framework for crypto oversight, highlights the continent's evolving regulatory landscape, as covered in a FurtherAfrica article. Ripple's custody infrastructure, supported by over 60 global licenses, positions it as a key enabler for banks navigating this transition. The company's RLUSD stablecoin is already being tested in climate risk insurance pilots in Kenya, where funds are automatically released based on satellite data detecting drought or extreme weather, according to a CoinDesk article.
With Africa's fintech sector projected to grow further, Ripple's expansion into custody services could position the region as a hub for blockchain innovation. The partnership with Absa notNOT-- only addresses immediate demand for secure digital asset management but also supports long-term adoption of tokenized finance. As Merrick noted, "This deal reinforces our belief that Africa's financial ecosystem is at a pivotal inflection point."
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