In a major step toward integrating blockchain infrastructure into traditional banking, Absa has announced a strategic partnership with Ripple, under which it will adopt Ripple’s institutional-grade custody platform to offer secure storage solutions for tokenized assets, including cryptocurrencies, to institutional clients in South Africa.
This development marks a significant shift in how African banks are beginning to engage with digital assets and blockchain technology. It also signals that custody infrastructure is evolving from a niche offering to a core component of modern financial systems.
Ripple’s First Major Custody Deal in Africa
The partnership represents Ripple’s first major custody collaboration on the continent, responding to growing demand in emerging markets for secure, compliant, and scalable digital asset infrastructure. According to a statement released by Absa on Wednesday, the move is designed to meet the needs of institutional clients seeking trusted solutions for managing tokenised assets.
Robyn Lawson, Head of Digital Product (Custody) at Absa Corporate & Investment Banking, said the partnership enables the bank to deliver robust custody services without having to build complex infrastructure from scratch. “This collaboration allows us to offer secure, compliant, and scalable custody solutions that meet the evolving needs of our clients,” she said.
Ripple’s Broader Strategy in Africa
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, described the partnership as part of a broader strategy to support the continent’s transition toward digital value exchange. Earlier this year, Ripple partnered with Chipper Cash, a leading African payments provider, and introduced its US dollar-backed stablecoin, RLUSD, in the region.
According to Ripple’s 2025 New Value Report, 64% of financial leaders in the Middle East and Africa identified faster settlement as a key driver for blockchain adoption in cross-border payments, a trend Ripple is positioning itself to lead.
The Absa-Ripple partnership could be a catalyst for broader adoption of tokenised finance across Africa. As more banks begin to integrate custody solutions for digital assets, the perception of cryptocurrencies and tokenized instruments may shift from speculative tools to mainstream financial products.
Ripple’s growing presence in Africa, now extending from payments to custody, suggests the company is aiming to become a foundational infrastructure provider for tokenized finance on the continent. If other financial institutions follow Absa’s lead, Africa could see a rapid evolution in how digital assets are stored, managed, and integrated into traditional banking systems.
