Absa has announced a partnership with Ripple, a global provider of digital asset infrastructure, to introduce digital asset custody services in South Africa. The move marks Ripple’s first major custody partnership in Africa and signals Absa’s entry into the rapidly evolving cryptocurrency custody space.
Under the agreement, Absa will use Ripple’s institutional-grade custody technology to provide secure storage for tokenised assets, including cryptocurrencies. The service is aimed at addressing the demand for compliant digital asset solutions among financial institutions and investors in emerging markets.
Robyn Lawson, head of Digital Product: Custody at Absa Corporate and Investment Banking, said the partnership will allow the bank to expand its custody capabilities as clients increasingly explore blockchain-based investments.
“As we continue to innovate and respond to the evolving financial ecosystem, we recognise the importance of providing our customers with secure, compliant, and robust custody solutions for their digital assets,” said Lawson. “Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards.”
The collaboration comes as regulators across Africa move towards greater clarity on the treatment of digital and alternative assets, paving the way for banks and asset managers to incorporate cryptocurrencies and tokenised instruments into their product offerings.
Ripple’s managing director for the Middle East and Africa, Reece Merrick, said the partnership reflects rising institutional interest in digital assets across the continent.
“Africa is experiencing a major shift in how value is stored and exchanged, and our partnership with Absa underscores Ripple’s commitment to unlocking the potential of digital assets on the continent,” said Reece.
Ripple has expanded its African presence over the past year, including collaborations with payments provider Chipper Cash and the rollout of its United States dollar-backed stablecoin (RLUSD) in African markets.
According to Ripple’s 2025 New Value Report, 64% of finance leaders in the Middle East and Africa view faster payments and settlement times as the main driver for adopting blockchain-based currencies in cross-border transactions.
The partnership positions Absa among a growing number of traditional financial institutions exploring blockchain infrastructure and crypto custody, as the digital asset market matures and regulatory frameworks continue to develop.
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