Absa Bank’s integration of Ripple’s digital asset custody services marks a significant advancement in Africa’s burgeoning digital finance landscape. This strategic partnership positions Absa as the first major African financial institution to offer regulated custody for cryptocurrencies and other tokenized assets, signaling growing acceptance and institutional interest in these innovative financial instruments across the continent.
By leveraging Ripple’s regulated custody infrastructure, Absa is equipped to securely store and manage digital assets on behalf of its clientele. This development is particularly impactful in regions like Africa, where regulatory frameworks for digital assets are still in their formative stages. The collaboration aligns with Ripple’s broader objective to support regulated financial institutions by providing robust blockchain-based infrastructure. Following the launch of its custody service earlier this year, Ripple has seen adoption across Europe, Asia, and Latin America, and its expansion into Africa with Absa underscores its global strategy.
This initiative complements Ripple’s existing regional engagements, which include collaborations with payment platforms such as Chipper Cash and the introduction of its US dollar-pegged stablecoin, RLUSD, in local markets. According to Ripple’s “New Value Report 2025,” a substantial 64% of financial leaders in the Middle East and Africa identify blockchain technology integration as crucial for expediting payments and reducing transaction costs.
Ripple’s extensive portfolio of over 60 regulatory licenses globally provides the compliance and security assurances that financial institutions require when entering the digital asset market. Once fully operational, Absa’s offering will place it among a select group of prominent African banks providing regulated crypto custody, a critical step towards fostering the growth and maturity of the continent’s financial ecosystem.
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