Ripple has expanded its banking footprint in Africa as Absa Corporate and Investment Banking launches Absa Digital Asset Custody using Ripple’s custody technology.
The service gives institutional clients access to bank-backed digital asset storage, bringing cryptocurrencies and tokenized assets into a regulated banking setup.
On September 21, 2026, Ripple Middle East and Africa Managing Director Reece Merrick confirmed the partnership with Absa Corporate and Investment Banking.
Merrick said, “We’re proud to partner with Absa Corporate and Investment Banking on the launch of Absa Digital Asset Custody.
Under the partnership, Absa will use Ripple’s custody technology to securely store and manage cryptocurrencies such as Bitcoin and XRP, along with tokenized real-world assets. The platform will also support settlement for corporate clients and asset managers.
Absa Head of Digital Product, Custody Robyn Lawson said the bank chose Ripple’s technology because it meets high security and operational standards.
The launch is important for XRP because it puts Ripple’s custody infrastructure directly inside a major African banking group.
The launch builds on a partnership announced in October 2025, when Absa became Ripple’s first major custody partner in Africa.
With Absa managing more than 2.07 trillion South African rand ($119.5 billion) in assets, the deal gives Ripple a major banking partner for expanding digital asset custody services across the continent.
The deal also adds to Ripple’s growing regional presence. The company already works with Chipper Cash on crypto-based cross-border payments and has expanded its RLUSD stablecoin through partnerships with Chipper Cash, VALR and Yellow Card.
The launch comes as crypto activity continues to grow across Africa. According to Chainalysis data, Sub-Saharan Africa recorded more than $205 billion in on-chain transaction value over the 12 months through June 2025, making it the third-fastest-growing crypto region globally.
Ripple’s 2025 New Value Report also found that 64% of financial leaders across the Middle East and Africa see faster payments and settlement as a major reason to adopt blockchain-based currencies.
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