XRP News Today: Ripple and Absa Secure Africa's Digital Asset Future Amid Rising Demand

Ripple, the leading provider of digital asset infrastructure, has launched its first major crypto custody partnership in Africa with Absa Bank, marking a strategic expansion into the continent's growing financial technology market. Through the collaboration, Absa will leverage Ripple's institutional-grade custody technology to securely store tokenized assets, including cryptocurrencies, for its clients in South Africa. The partnership underscores the increasing demand for compliant digital asset solutions in emerging markets, where regulatory clarity and institutional adoption are accelerating[1].

Reece Merrick, Ripple's Managing Director for the Middle East and Africa, highlighted the significance of the move, stating that Africa is undergoing a "major shift in how value is stored and exchanged." The partnership builds on Ripple's existing presence in Africa, including its support for payments provider Chipper Cash and the introduction of its USD-backed stablecoin RLUSD in the region[1]. Absa, one of Africa's largest financial institutions, joins a global network of Ripple clients spanning Europe, the Middle East, Asia-Pacific, and Latin America.

The collaboration aligns with broader trends in Africa's digital asset landscape. Ripple's 2025 New Value Report revealed that 64% of finance leaders in the Middle East and Africa view faster payments and settlement times as a key driver for adopting blockchain-based currencies in cross-border transactions[1]. Absa's adoption of Ripple's custody technology also reflects growing institutional confidence in blockchain solutions, as highlighted by Robyn Lawson, Head of Digital Product, Custody at Absa Corporate and Investment Banking, who emphasized the need for "secure, compliant, and robust" infrastructure[1].

Ripple's expansion into Africa is positioned to address challenges such as limited access to secure digital asset storage and fragmented regulatory frameworks. With over 60 regulatory licenses globally, Ripple aims to provide a scalable solution for financial institutions navigating evolving rules across the continent[1]. The partnership also aligns with Africa's increasing participation in the global digital asset economy, where tokenized assets and blockchain-based financial products are gaining traction[4].

The move is part of Ripple's broader strategy to strengthen its custody offerings, which now include features like real-time transaction screening and integration with the XRP Ledger for tokenizing real-world assets (RWAs)[7]. As the crypto custody market is projected to reach $16 trillion by 2030[7], Ripple's collaboration with Absa positions the firm to capitalize on Africa's emerging demand for institutional-grade infrastructure.