Ripple is expanding its institutional custody infrastructure to Africa through a new partnership with Absa Bank, one of South Africa’s largest financial institutions.
The deal makes Absa Ripple the first major custody client on the continent and reflects growing institutional interest in tokenized assets in emerging markets.
Absa will use Ripple’s digital asset custody technology to store and manage cryptocurrencies and tokenized assets for its clients, according to a statement. The integration will enable the bank to offer a secure and compliant custody infrastructure at a time when regulatory clarity around digital assets in Africa is improving.
The move follows a broader strategy by Ripple to position itself as a back-end provider of blockchain-based infrastructure for regulated institutions. Its custody offering, launched earlier this year, is now available with customers in Europe, Asia and Latin America.
The partnership builds on Ripple’s recent expansion into Africa. Earlier this year, the company announced a collaboration with Chipper Cash to boost cryptocurrency-based payments and confirmed that its USD-backed stablecoin, RLUSD, would be rolled out to African markets.
According to Ripple’s New Value 2025 Report, 64% of financial leaders in the Middle East and Africa see faster settlement and reduced transaction costs as the main reason for integrating blockchain-based currencies into payment flows.
Ripple holds more than 60 licenses and regulatory registrations worldwide, giving it a compliance advantage in jurisdictions where banks remain cautious about exposure to digital assets.
The agreement with Absa, once in place, will make South Africa one of the few African markets with a significant bank-backed cryptocurrency custody offering.
