#Ripple Expands Custody Services to Africa via Absa Bank


#Ripple is extending its institutional #custody infrastructure to Africa through a new partnership with Absa Bank, one of South Africa's largest financial institutions. The deal makes Absa Ripple's first major custody client on the continent, reflecting growing institutional interest in tokenized assets across emerging markets.


Absa will use Ripple's digital asset custody technology to store and manage cryptocurrencies and #tokenized assets for its clients. The integration will allow the bank to offer secure, compliant custody infrastructure at a time when regulatory clarity around digital assets in Africa is improving.


The bank manages 2.07 trillion South African rands, equivalent to $119.5 billion of assets, as of the end of 2024. Absa also generated $6.34 billion of revenue last year, making it a major player on the African financial stage and a significant addition to Ripple's custody network.


The move follows a broader strategy by Ripple to position itself as a back-end provider of #blockchain-based infrastructure for regulated institutions. Its custody offering, launched earlier this year, is already live with clients in Europe, Asia and Latin America, establishing a global footprint for the service.

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October 15, 2025 at 5:38 PM
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