Ripple is making a bold move into Africa. The blockchain company is extending its institutional custody infrastructure to the continent through a new partnership with Absa Bank, one of South Africa’s largest financial institutions.
This deal positions Absa as Ripple’s first major custody client in Africa, signaling growing institutional interest in tokenized assets across emerging markets.
What this means:
Absa will leverage Ripple’s digital asset custody technology to securely store and manage cryptocurrencies and tokenized assets for its clients. The integration allows the bank to offer compliant, secure custody infrastructure, just as regulatory clarity around digital assets in Africa improves.
With 2.07 trillion South African rands ($119.5 billion) in assets under management and $6.34 billion in revenue in 2024, Absa is a major player on the African financial stage, making this partnership a significant win for Ripple’s custody network.
Ripple’s global custody strategy:
The move aligns with Ripple’s broader plan to position itself as a back-end provider of blockchain infrastructure for regulated institutions. Its custody offering, launched earlier this year, is already live in Europe, Asia, and Latin America, giving Ripple a strong global footprint.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, emphasized that the partnership underscores the company’s commitment to unlocking the potential of digital assets on the continent. This expansion builds on previous collaborations with Chipper Cash for crypto-enabled cross-border payments, which launched in March 2025.
Expanding the African crypto ecosystem:
Last month, Ripple introduced its RLUSD stablecoin to Africa, partnering with Chipper Cash, crypto exchange VALR, and payment service Yellow Card. Jack McDonald, Ripple’s SVP of stablecoins, confirmed that RLUSD distribution had already begun through local partners.
According to Ripple’s 2025 New Value Report, 64% of finance leaders in the Middle East and Africa see faster settlement and reduced transaction costs as key reasons to integrate blockchain-based currencies into payments. This data highlights strong potential for digital asset adoption across the region.
Compliance is a major differentiator:
Ripple holds more than 60 regulatory licenses and registrations globally, giving it a compliance edge in regions where banks remain cautious about crypto exposure. Once live, the Absa partnership will make South Africa one of the few African markets with a major bank-backed crypto custody offering.
Ripple’s custody service was launched about a year ago, designed specifically to serve banks and fintechs as a back-end provider. The expansion follows Ripple’s acquisition of digital asset custodian Standard Custody last summer, providing the technical foundation for this latest growth.
The bottom line:
Ripple is not just entering Africa, it’s building the infrastructure for regulated digital assets on the continent. For banks, fintechs, and institutional investors, this signals a new era of secure, compliant, and scalable crypto adoption.
