Ripple is making its move in Africa. The blockchain company has partnered with Absa Bank, one of the continent’s biggest financial institutions, to bring institutional-grade crypto custody to South Africa. This marks Ripple’s first major digital asset custody partnership in Africa.
Absa Becomes Ripple’s First African Custody Partner
Through the partnership, Absa will use Ripple’s secure and scalable digital asset custody technology to store cryptocurrencies and tokenized assets for its customers.
For Ripple, this is a major step in expanding its global footprint, which already covers Europe, the Middle East, Asia-Pacific, and Latin America.
“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 Merrick, Ripple’s Managing Director for the Middle East and Africa.
The move comes as demand rises across Africa for safe and compliant digital asset infrastructure. Banks and fintechs are increasingly exploring blockchain to modernize payments, custody, and cross-border transactions.
Absa Steps Into the Digital Asset Space
Absa, which serves more than 12 million customers across ten countries, will now offer clients trusted crypto custody solutions.
“We recognise the importance of providing our customers with secure, compliant, and robust custody solutions for their digital assets. Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards,” said Robyn Lawson, Head of Digital Product, Custody at Absa Corporate and Investment Banking.
The partnership highlights Absa’s focus on innovation and client trust.
Ripple’s Growing Presence in Africa
This deal follows Ripple’s earlier work in Africa with Chipper Cash, which uses Ripple’s crypto-enabled payments technology for cross-border transactions. Ripple also rolled out its USD-backed stablecoin, RLUSD, in African markets this year, further anchoring its presence in the region.
According to Ripple’s 2025 New Value Report, 64% of financial leaders in the Middle East and Africa see faster payments and settlement times as a major reason to adopt blockchain-based currencies.
Also Read: Ripple CEO Garlinghouse Announces 24/7 RLUSD Redemption for BlackRock, VanEck Tokenized Funds
Africa’s Crypto Market Is Ready
The timing is right. Sub-Saharan Africa handled over $205 billion in on-chain crypto transactions between July 2024 and June 2025, a 52% increase from the previous year, making it the third-fastest-growing crypto region globally.
With countries like South Africa and Nigeria providing formal frameworks for crypto trading, taxation, and custody, banks are now moving beyond curiosity. Ripple’s partnership with Absa puts it at the center of this fast-growing digital finance ecosystem.
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