Ripple Expands African Footprint with Custody Partnership at Absa Bank

Ripple has partnered with Absa Bank to bring institutional-grade digital asset custody services to South Africa. The agreement makes Absa the first major African financial institution to join Ripple as a custody partner.

Through this partnership, Absa customers will be able to securely store cryptocurrencies and tokenized assets using Ripple’s custody technology. The collaboration reflects the growing demand for compliant digital asset infrastructure in Africa’s financial markets.

Ripple, which provides blockchain infrastructure for financial institutions, described the partnership as part of its wider effort to expand digital asset access across emerging markets.

Expanding Ripple’s Presence in Africa

This partnership strengthens Ripple’s operations across Africa, where interest in blockchain-based financial solutions is rising. Ripple has already worked with Chipper Cash, a payments provider serving multiple African markets, to enable crypto-based payments. It also recently introduced its USD-backed stablecoin, Ripple USD (RLUSD), to regional partners including Chipper Cash, VALR, and Yellow Card.

Ripple’s 2025 New Value Report showed that 64% of finance leaders in the Middle East and Africa view faster payments and settlement times as the leading reason to integrate blockchain-based currencies into cross-border transactions.

Ripple’s technology aims to give banks and financial institutions the infrastructure to handle such transactions securely and compliantly.

Absa’s Role in Africa’s Financial System

Absa Bank is among Africa’s most significant financial institutions, with 2.07 trillion South African rands ($119.5 billion) in assets as of the end of 2024. The bank reported $6.34 billion in revenue last year and continues to expand its digital capabilities.

By adopting Ripple’s digital asset custody technology, Absa seeks to modernize its services and meet the needs of customers exploring digital investments.

Robyn Lawson, Head of Digital Product, Custody at Absa Corporate and Investment Banking, said:

“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. Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards.”

Lawson added that the partnership aligns with Absa’s goal to deliver next-generation financial infrastructure for clients across the continent.

What Ripple’s Custody Solution Offers

Ripple’s custody technology provides banks and financial firms with secure storage for digital assets, including cryptocurrencies and tokenized securities.

The platform was developed following Ripple’s acquisition of Standard Custody, a regulated digital asset custodian. The service caters to institutional clients—primarily banks and fintech firms—requiring compliance-ready infrastructure for digital asset management.

Ripple’s custody network now spans Europe, the Middle East, Asia-Pacific, Latin America, and Africa, serving a wide range of regulated institutions.

Key Features of Ripple’s Custody Solution

• Regulatory-grade compliance: Ripple holds over 60 regulatory licenses and registrations across global jurisdictions.
• Scalability and security: Designed for large institutions handling tokenized assets and cryptocurrencies.
• Integration with Ripple’s stablecoin (RLUSD): Enables banks to link custody with payments and settlement functions.
• Institutional access: Offers connectivity with Ripple’s broader blockchain network used for payments and liquidity.

Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, emphasized the significance of this partnership:

“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. As one of the most respected and innovative banks in Africa, Absa has a strong track record of leadership, and we’re proud to support its digital asset ambitions.”

Regulatory Progress in African Digital Finance

Africa’s regulatory landscape for digital assets is gradually improving. Several countries, including South Africa, Kenya, and Nigeria, are advancing frameworks that clarify the treatment of cryptocurrencies and tokenized assets.

This clarity is fueling institutional interest. More banks and financial service providers are exploring blockchain applications to enhance settlement efficiency, reduce costs, and offer new investment products.

Ripple’s custody solution aims to give these institutions confidence in adopting blockchain-based services while meeting local compliance standards.

Absa’s collaboration with Ripple marks a turning point for institutional engagement with blockchain infrastructure in Africa. While several fintech startups across the continent already offer crypto-related services, few major banks have integrated digital asset custody into their product lineup.

Ripple’s Broader Custody Strategy

Ripple’s move into digital asset custody began in mid-2023 after it filed for a trademark dedicated to the service. It has since onboarded several major institutions globally.

Recent custody-related partnerships include:

• HSBC (2023): To support tokenized securities custody for institutional clients.
• BDAas (South Korea): To expand institutional custody support for XRP and related assets.
• Banco Bilbao Vizcaya Argentaria (Spain): To provide compliant custody solutions for European clients.
• Bahrain Fintech Bay: To bring custody and RLUSD stablecoin services to Bahraini financial institutions.

Each of these partnerships reflects Ripple’s long-term strategy to establish itself as a core provider of blockchain-based financial infrastructure, beyond cross-border payments.

Conclusion

Ripple’s partnership with Absa Bank establishes a new standard for institutional digital asset custody in Africa. The collaboration reflects rising institutional interest in secure and compliant blockchain infrastructure, and it extends Ripple’s role in supporting regulated financial systems worldwide.

With Absa onboard, Ripple strengthens its custody network across emerging markets, enabling banks to store, exchange, and manage tokenized assets safely and efficiently.

Rather than predicting outcomes, this partnership shows the technical readiness and institutional confidence needed to integrate digital asset custody into Africa’s traditional financial landscape.

Resources:

1. Announcement: Ripple expands into the Kingdom of Bahrain through Strategic Partnership with Bahrain Fintech Bay: https://ripple.com/ripple-press/ripple-expands-into-the-kingdom-of-bahrain-through-strategic-partnership-with-bahrain-fintech-bay/

2. Ripple’s 2025 New Value Report: https://ripple.com/lp/2025-new-value-report-payments/

3. Absa Bank 2024 report: https://www.absa.africa/absa-group-2024-annual-results/