Ripple has entered into a strategic partnership with Absa Bank, one of South Africa’s largest financial institutions, to provide digital asset custody services for institutional clients.
Key Takeaways:
- Ripple partnered with Absa Bank to launch its first digital asset custody service in Africa.
- The deal enables Absa to offer secure, compliant storage for tokenized assets using Ripple’s technology.
- The move strengthens Ripple’s global custody network and expands its influence across emerging African fintech markets.
The move marks Ripple’s first major custody partnership in Africa, extending the company’s reach into one of the world’s fastest-growing fintech markets.
Absa Bank to Offer Tokenized Asset Storage Using Ripple’s Custody Tech
Under the agreement, Absa will integrate Ripple’s institutional-grade digital asset custody technology, enabling the bank to offer secure and scalable storage solutions for tokenized assets, including cryptocurrencies.
The partnership comes amid rising demand for compliant digital asset infrastructure across emerging markets and growing regulatory clarity around alternative investments in Africa.
“Africa is experiencing a major shift in how value is stored and exchanged,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa.
“Our partnership with Absa underscores Ripple’s commitment to unlocking the potential of digital assets on the continent,” he added.
Ripple’s global custody network now spans Europe, the Middle East, Asia-Pacific, Latin America, and Africa, supporting financial institutions as they embrace tokenization and blockchain-based finance.
The company’s custody infrastructure meets strict operational, security, and regulatory standards, allowing institutions like Absa to safely enter the digital asset space while maintaining compliance.
The partnership expands Ripple’s footprint in Africa, following earlier collaborations such as Chipper Cash, which uses Ripple’s crypto-enabled payments technology, and the planned rollout of Ripple’s USD-backed stablecoin, RLUSD, across select African markets.
According to Ripple’s 2025 New Value Report, 64% of finance leaders in the Middle East and Africa see faster payments and settlement times as the primary reason for adopting blockchain-based currencies in cross-border transactions.
With over 60 regulatory licenses and registrations worldwide, Ripple continues to position itself as a major provider of compliant digital asset infrastructure for banks and payment firms globally.
Ripple Expands Dollar-Backed Stablecoin RLUSD to Africa
As reported, Ripple has extended the reach of its US dollar-backed stablecoin, Ripple USD (RLUSD), into Africa, forming new partnerships with fintech platforms Chipper Cash, VALR, and Yellow Card.
The move opens regulated access to a stable digital dollar for institutional users across the continent, where demand for reliable cross-border payment infrastructure continues to grow.
Launched in late 2024, RLUSD is issued by a New York trust company regulated by the state’s Department of Financial Services and has surpassed $700 million in supply on Ethereum and the XRP Ledger.
Beyond payments, RLUSD is also playing a role in real-world use cases. In Kenya, Mercy Corps Ventures is piloting the stablecoin in climate risk insurance programs.
In one initiative, RLUSD is held in escrow and released automatically when satellite data detects drought conditions.
Another pilot provides rainfall insurance, with funds disbursed in the event of extreme weather.
In July, Zug-based crypto bank AMINA also announced that it will support Ripple stablecoin RLUSD, initially offering custody and trading services.
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