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Absa Bank has become the first major African institution to adopt Ripple’s digital asset custody services, signaling a rising appetite for tokenized assets on the continent.
The partnership allows Absa to securely store and manage cryptocurrencies and other tokenized holdings for its clients, leveraging Ripple’s regulated custody infrastructure as Africa’s digital asset regulations continue to take shape.
This move aligns with Ripple’s global strategy to support regulated financial institutions with blockchain-based infrastructure. Since launching its custody service earlier this year, Ripple has already onboarded clients across Europe, Asia, and Latin America, and now aims to extend its footprint in Africa.
The collaboration also complements Ripple’s broader African initiatives, including partnerships with payment platforms like Chipper Cash and the rollout of its USD-backed stablecoin, RLUSD, in regional markets. Ripple’s New Value Report for 2025 highlights that 64% of financial leaders in the Middle East and Africa see blockchain integration as a way to speed up settlements and cut transaction costs.
With over 60 regulatory licenses worldwide, Ripple provides the compliance reassurance that many banks seek when entering digital asset markets. Once operational, Absa will be among the few major banks in Africa offering regulated crypto custody, marking a significant milestone for the continent’s financial ecosystem.