 
 
XRP developer Ripple has partnered with South Africa’s Absa Bank to provide digital asset custody services, extending its institutional custody infrastructure across Africa.
The collaboration reflects growing institutional interest in secure and compliant crypto infrastructure across emerging markets.
Absa Taps Ripple For Institutional Crypto Custody
According to a Wednesday press release, Absa is Ripple’s first major custody client in Africa.
As part of the partnership, the bank will use Ripple’s digital asset custody technology to store and manage cryptocurrencies and tokenized assets for its customers. The integration will allow the bank to offer secure, compliant custody infrastructure at a time when regulatory clarity around digital assets in Africa is improving.
Absa is a major player on the African financial front, managing roughly $119.5 billion in assets as of end-2024. The bank witnessed $6.34 billion of revenue last year.
 
Reece Merrick, Ripple’s managing director for Middle East and Africa, said the partnership “underscores Ripple’s commitment to unlocking the potential of digital assets on the continent.”
“Having spent time in South Africa earlier in my career, it holds a special place in my heart, so I’m delighted we’re bringing institutional-grade digital asset custody to one of the nation’s leading banks,” Merrick added.
The Absa deal aligns with Ripple’s broader strategy to position itself as a key provider of blockchain-based infrastructure for regulated institutions. Introduced earlier this year, its custody solution is already being used by clients in Europe, Asia, and Latin America.
Moreover, the partnership expands Ripple’s presence in Africa. In late March, the firm teamed up with African payment infrastructure provider Chipper Cash to power crypto-enabled cross-border payments, revealing that its dollar-pegged RLUSD stablecoin would go live in African markets.
Last month, the blockchain payments startup agreed to provide crypto custody services to Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA). And as ZyCrypto reported earlier this month, Ripple announced a strategic partnership with Bahrain Fintech Bay to bring its custody solution and RLUSD to Bahrain’s financial institutions.