Ripple Expands Crypto Custody Services to Africa Through Absa Bank Deal
Ripple is extending its institutional digital asset custody infrastructure to Africa by partnering with Absa Bank, one of South Africa’s largest financial institutions. The collaboration makes Absa Ripple’s first major custody client on the continent, allowing the bank to securely store and manage cryptocurrencies and tokenized assets for its clients.
The move is part of Ripple’s broader strategy to position itself as a provider of blockchain-based infrastructure for regulated institutions, complementing existing custody offerings in Europe, Asia, and Latin America.
This expansion follows Ripple’s earlier initiatives in Africa, including a partnership with Chipper Cash to enable crypto payments and the rollout of its USD-backed stablecoin RLUSD in the region.
According to Ripple’s 2025 New Value Report, 64% of finance leaders in the Middle East and Africa cite faster settlement and lower transaction costs as key drivers for adopting blockchain-based payment systems.
With more than 60 global regulatory licenses, Ripple is targeting compliant, secure custody solutions in emerging markets, making South Africa one of the few African countries to offer bank-backed crypto custody.
