Ripple has officially expanded its global custody network into Africa through a strategic partnership with Absa Bank, one of the continent’s largest and most innovative financial institutions. The collaboration will enable Absa to offer institutional-grade digital asset custody to its South African clients, supporting secure storage for tokenized assets and cryptocurrencies.
Ripple Expands Its Global Custody Network
The partnership marks Ripple’s first major custody venture in Africa, underscoring the growing demand for compliant digital asset infrastructure across emerging markets. Ripple’s custody solutions, already deployed across Europe, the Middle East, Asia-Pacific, and Latin America, are designed to help financial institutions adopt digital asset services while meeting strict regulatory and operational standards.
“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 reflects Ripple’s commitment to unlocking the potential of digital assets on the continent.”
Strengthening Africa’s Digital Finance Ecosystem
Absa’s Head of Digital Product, Custody, Robyn Lawson, emphasized that the integration will allow the bank to deliver secure, compliant digital asset services aligned with global best practices. “Ripple’s technology meets the highest security and operational standards,” she said. “Together, we’re building the next generation of financial infrastructure.”
The move builds on Ripple’s broader expansion in Africa, following recent partnerships with Chipper Cash for crypto-enabled payments and the introduction of its USD-backed stablecoin, RLUSD, to regional markets.
According to Ripple’s 2025 New Value Report, 64% of financial leaders across the Middle East and Africa view blockchain-based currencies as essential to improving cross-border settlement speeds. With this new partnership, Ripple is solidifying its position as a core enabler of digital transformation for Africa’s banking and payments landscape.