Absa Bank has entered a strategic partnership with Ripple, a global provider of blockchain-based financial infrastructure, to offer digital asset custody services in South Africa.
Source: Reuters/Mike Hutchings
The collaboration will enable Absa to provide secure, compliant, and scalable storage solutions for digital and tokenised assets — including cryptocurrencies — using Ripple’s institutional-grade custody technology.
Through this initiative, Absa aims to position itself at the forefront of digital finance innovation, offering clients a trusted platform for the safekeeping of their digital assets.
The partnership responds to the growing demand for secure, compliant digital asset infrastructure across emerging markets. Ripple’s expanding global custody network now includes clients across Europe, the Middle East, Asia-Pacific, Latin America, and Africa, supporting financial institutions as they embrace the opportunities presented by digital asset technology.
“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.”
Rising digital adoption
As regulatory clarity around alternative investments increases across Africa, institutional interest in blockchain-based solutions is rising. Ripple’s infrastructure enables financial institutions like Absa to confidently explore new digital asset offerings while meeting strict security, operational, and regulatory requirements.
“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.”
Expanding African footprint
The new partnership between Absa and Ripple extends Ripple’s existing operations on the continent. Earlier this year, Ripple announced it is supporting Africa-based payments provider Chipper Cash with its crypto-enabled payments technology, as well as the arrival of its USD-backed stablecoin RLUSD in Africa.
Ripple is seeing increasing demand for its payments solution across Africa from both crypto-native firms and traditional financial institutions. According to Ripple’s 2025 New Value Report, 64% of Middle East and Africa (MEA) finance leaders see faster payments and settlement times as the biggest impetus for incorporating blockchain-based currencies into their cross-border payments flows.
Thanks to its simple, secure, compliant digital asset infrastructure, Ripple is well-positioned to provide the core services that financial institutions need to store, exchange, and move digital assets. Ripple has over a decade of experience in the digital asset space and holds more than 60 regulatory licenses and registrations in various jurisdictions.
