XRP News Today: Ripple and Absa Meet Africa's Surging Demand for Secure Crypto Custody

Ripple has struck a landmark partnership with Absa Bank, one of South Africa's largest financial institutions, to introduce institutional-grade crypto custody services across Africa. The collaboration marks Ripple's first major custody partnership on the continent and expands its global footprint to five continents, according to a Bankless Times report. Absa will integrate Ripple's enterprise-grade custody technology to securely store and manage cryptocurrencies and tokenized assets for institutional clients, addressing surging demand for compliant digital infrastructure in Africa.

The partnership positions Absa as a pioneer in the region's evolving crypto landscape. Robyn Lawson, Absa's head of digital product and custody, emphasized that the solution offers "secure, compliant, and robust" management for digital assets, aligning with the bank's innovation strategy. Reece Merrick, Ripple's managing director for the Middle East and Africa, highlighted the deal as a response to Africa's "major shift in how value is stored and exchanged," underscoring the continent's growing appetite for blockchain-based financial products.

The partnership aligns with broader trends in Africa's financial sector, where blockchain adoption is accelerating. Ripple's 2025 New Value Report reveals that 64% of finance leaders in the Middle East and Africa view blockchain as critical for cross-border payments and efficient settlement. This sentiment is reinforced by Chainalysis data showing Sub-Saharan Africa processed over $205 billion in on-chain crypto transactions between July 2024 and June 2025, a 52% annual increase, as reported by Coinpedia.

Absa's entry into crypto custody follows regulatory progress in countries like South Africa and Nigeria, which have established formal frameworks for crypto trading, taxation, and custody. The bank joins a growing list of African institutions exploring blockchain, including fintechs and payment providers, to modernize cross-border transactions and asset management.

Ripple's partnership with Absa builds on its earlier collaborations in Africa, such as its integration with payments provider Chipper Cash for cross-border crypto transactions and the rollout of its USD-backed stablecoin, RLUSD, across platforms like VALR and Yellow Card, details reported in a Coinpedia live report. The firm now operates a global custody network spanning Europe, the Middle East, Asia-Pacific, and Latin America, with Absa marking its first African anchor.

The move also reflects Ripple's broader strategy to bridge traditional banking and blockchain finance. With over 60 regulatory licenses globally, the firm aims to provide compliant infrastructure for institutions navigating digital assets, according to a CoinDesk article. Its custody platform offers detailed audit trails and robust compliance features, addressing banks' concerns around security and regulatory adherence.

The partnership could catalyze wider adoption of crypto custody in Africa, where institutional demand for secure, regulated solutions is rising. Mercy Corps Ventures is already piloting RLUSD in Kenya for climate risk insurance, using smart contracts to automate drought-related payouts . Meanwhile, consumer adoption is growing through integrations with payment providers like Scan to Pay, which enables crypto payments for over 650,000 merchants .

As Africa's financial ecosystem digitizes, Ripple and Absa aim to set a benchmark for secure, regulated crypto custody. The collaboration not only expands financial infrastructure but also signals a shift in traditional banks' roles within digital markets, blending blockchain innovation with institutional standards.