coindoo.com
Ripple is taking another major leap into the African financial landscape by teaming up with South Africa’s Absa Bank to roll out a new digital asset custody service for institutional clients.
The collaboration represents Ripple’s first major custody partnership on the continent and reflects a growing appetite among African banks for blockchain-powered financial infrastructure.
The move comes as demand for secure and compliant crypto custody solutions accelerates across emerging markets. Absa, one of Africa’s largest banking groups, plans to integrate Ripple’s enterprise-level technology to help institutions safely manage tokenized assets and digital currencies as adoption in the region gains momentum.
Reece Merrick, Ripple’s managing director for the Middle East and Africa, said the partnership demonstrates how Africa’s leading financial institutions are preparing for the next phase of digital finance.
Meanwhile, Absa executive Robyn Lawson highlighted the importance of offering clients trusted, regulation-aligned services as the financial ecosystem modernizes.
This latest milestone builds on Ripple’s growing presence in Africa. In September, the company brought its USD-backed stablecoin, Ripple USD (RLUSD), to the continent, linking up with firms such as Chipper Cash, VALR, and Yellow Card to boost cross-border transactions and payment accessibility.
Ripple’s global custody business has also expanded rapidly. Recent alliances with global players including BBVA, HSBC, and DBS have positioned the firm as one of the few crypto infrastructure providers bridging the gap between traditional banking and blockchain-based assets.
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