Ripple has officially expanded its global custody network into Africa through a strategic partnership with Absa Bank, one of the continent's largest and most innovative financial institutions. This collaboration will enable Absa to offer institutional-grade digital asset custody to its South African clients, supporting secure storage for tokenized assets and cryptocurrencies.
This marks Ripple's first major custody venture in Africa, highlighting the growing demand for compliant digital asset infrastructure in emerging markets. Ripple's custody solutions, already deployed across Europe, the Middle East, Asia-Pacific, and Latin America, are designed to help financial institutions adopt digital asset services while meeting strict regulatory standards.
Reece Merrick, Ripple's Managing Director for the Middle East and Africa, emphasized, "Africa is experiencing a major shift in how value is stored and exchanged. Our partnership with Absa reflects Ripple's commitment to unlocking the potential of digital assets on the continent." Robyn Lawson, Absa's Head of Digital Product, Custody, added that the integration aligns with global best practices, stating, "Ripple's technology meets the highest security and operational standards. Together, we're building the next generation of financial infrastructure."
The rollout will begin in key markets like South Africa, Kenya, and Mauritius, with plans to expand to Uganda and Ghana. This builds on Ripple's broader African expansion, including partnerships with Chipper Cash for crypto-enabled payments and the introduction of its USD-backed stablecoin, RLUSD. According to Ripple's 2025 New Value Report, 64% of financial leaders in the Middle East and Africa view blockchain-based currencies as essential for improving cross-border settlement speeds. The initiative aims to enhance financial inclusion and digital transformation in Africa's banking landscape.
AVAX
USDT
TRX
A7A5
EURC
ETH