Ripple teams up with Absa Bank to bring secure, compliant digital asset custody solutions to Africa’s growing crypto market.
Ripple, the institutional blockchain service provider and developer of XRP, has partnered with Absa Bank, one of South Africa’s largest financial institutions, to launch digital asset custody services for its customers.
The partnership marks Ripple’s first major custody collaboration in Africa, leveraging its tokenization and crypto infrastructure to support Absa’s $119.5 billion in managed assets. The move reflects growing regional demand for secure, compliant digital asset infrastructure, according to Ripple’s managing director for the Middle East and Africa, Reece Merrick.
This development follows Ripple’s recent partnerships with Chipper Cash, VALR, and Yellow Card to expand its RLUSD stablecoin across the continent. Ripple has also secured similar custody deals with HSBC, Banco Bilbao Vizcaya Argentaria, and Bahrain Fintech Bay.
The partnership signals Africa’s accelerating adoption of blockchain-backed finance, aligning with the global trend of traditional banks integrating digital asset services into their portfolios.
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