Ripple Partners With Absa Bank to Launch Africa’s First Institutional Digital Asset Custody Platform

Ripple has partnered with Absa Bank, one of South Africa’s largest financial institutions, to launch a digital asset custody platform for institutional clients, marking the company’s first major custody partnership in Africa.

The collaboration allows Absa to offer secure and compliant storage for tokenized assets using Ripple’s institutional-grade custody technology — a significant step in expanding the bank’s blockchain capabilities and Ripple’s footprint across Africa’s fast-growing fintech sector.

Under the new partnership, Absa Bank will integrate Ripple’s enterprise digital asset custody infrastructure, enabling it to manage and store tokenized assets and cryptocurrencies for institutional clients.

The launch comes as demand for regulated digital asset services continues to grow in emerging markets, where traditional finance and blockchain technology are rapidly converging. Reece Merrick, Ripple's Managing Director for the Middle East and Africa said

“Africa is experiencing a major shift in how value is stored and exchanged. Our partnership with Absa underscores Ripple’s commitment to unlocking the potential of digital assets on the continent.”

Ripple’s custody technology adheres to strict global security, operational, and regulatory standards, ensuring that financial institutions like Absa can safely enter the digital asset space while maintaining full compliance.

The move strengthens Ripple’s global custody network, which already spans Europe, the Middle East, Asia-Pacific, Latin America, and now Africa, supporting financial institutions as they embrace tokenization and blockchain-based finance.

Strengthening Ripple’s Presence in Africa

The Absa partnership further solidifies Ripple’s growing influence across the African continent. It follows earlier collaborations such as Chipper Cash, which uses Ripple’s crypto-enabled payments technology, and the planned rollout of Ripple’s USD-backed stablecoin, RLUSD, across select African markets.

According to Ripple’s 2025 New Value Report, 64% of finance leaders in the Middle East and Africa view faster payments and settlement times as the primary reason for adopting blockchain-based currencies in cross-border transactions — a trend that aligns with Ripple’s focus on creating real-world use cases for tokenized assets.

The partnership with Absa complements Ripple’s ongoing expansion of its US dollar–backed stablecoin, Ripple USD (RLUSD), which is gaining traction across Africa. Ripple recently announced partnerships with Chipper Cash, VALR, and Yellow Card to provide institutional and fintech partners with regulated access to a stable digital dollar for cross-border payments.

Launched in late 2024, RLUSD is issued by a New York–regulated trust company and has already surpassed $700 million in supply across the Ethereum and XRP Ledger blockchains.

Beyond cross-border payments, RLUSD is also being applied to real-world financial and humanitarian initiatives. In Kenya, for instance, Mercy Corps Ventures is piloting RLUSD in climate insurance programs that automatically release funds when satellite data detects drought or excessive rainfall, ensuring rapid response in times of crisis.

A New Chapter for Digital Assets in Africa

With over 60 regulatory licenses and registrations worldwide, Ripple continues to position itself as one of the leading providers of compliant digital asset infrastructure for banks and payment firms globally.

By partnering with Absa Bank, Ripple is bridging traditional finance and blockchain innovation in one of the world’s most dynamic fintech regions. The collaboration not only advances Ripple’s mission to bring tokenization to mainstream finance but also underscores Africa’s rising role in shaping the future of digital asset adoption.