15.10.2025 11:27
In a significant move to broaden its international presence, crypto infrastructure leader Ripple has forged a strategic alliance with Absa Bank, a prominent African financial institution. This collaboration will introduce Ripple's institutional-grade digital asset custody services to South Africa, capitalizing on the continent's rapidly growing appetite for enterprise-level crypto adoption and the increasing trend of asset tokenization. The development, viewed as a substantial boost for the XRP community, aligns with a backdrop of improving regulatory clarity in the region.
Absa Group, which now stands as Ripple’s first major custody partner on the African continent, intends to integrate this advanced technology to offer its clientele scalable and secure storage for their digital holdings. Highlighting the synergy, Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, praised Absa as one of the most respected and innovative banks in the region, noting that the partnership underscores Ripple's dedication to unlocking the potential of digital assets across Africa. Echoing this sentiment, Absa’s Head of Digital Product and Custody, Robyn Lawson, affirmed the bank's commitment to innovation, stating that providing customers with "secure, compliant, and robust custody solutions for their digital assets" is of paramount importance in the evolving financial ecosystem.
This latest venture builds upon Ripple's recent strategic initiatives in Africa, following the company's expansion of its USD-backed stablecoin, RLUSD, into the continent just last September. That expansion was facilitated through key collaborations with payment platforms such as Chipper Cash, VALR, and Yellow Card, all aimed at enhancing cross-border payment efficiency and driving both institutional and retail crypto adoption.
The partnership addresses a surging institutional demand for secure and compliant digital asset infrastructure, particularly within emerging markets. By offering services like its advanced custody solution, Ripple strategically positions itself to bridge the chasm between the worlds of cryptocurrency and traditional finance. This move in Africa is a key component of a wider global expansion of its custody footprint, which already includes a diverse clientele across Europe, the Middle East, Asia-Pacific, and Latin America, according to information from internet sources.
