Absa has announced a partnership with Ripple under which it will adopt the blockchain infrastructure specialist’s institutional-grade custody platform to offer secure storage solutions for tokenised assets – including cryptocurrencies – to institutional clients in South Africa.

The move is significant as it may mark a turning point in how traditional banks in Africa engage with cryptocurrencies and the tokenisation wave. It also signals that custody is becoming a “must-have” plumbing in financial infrastructure, and not a fringe experiment.

It marks Ripple’s first major custody partnership in Africa and is in response to an accelerating demand in emerging markets for reliable, compliant digital asset infrastructure, Absa said in a statement on Wednesday.

Robyn Lawson, head of digital product (custody) at Absa Corporate & Investment Banking, said the collaboration allows the bank to deliver “secure, compliant and robust custody solutions” without reinventing complex technical infrastructure.

Ripple’s Reece Merrick, MD for Middle East and Africa, framed the move as a bet on the continent’s shift towards digital value exchange.

The partnership with Absa builds on Ripple’s footprint in Africa. Earlier this year, it partnered with payments provider Chipper Cash 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 see faster settlement as a key driver for blockchain adoption in cross-border payments.

Read: Discovery Bank’s Hylton Kallner on the future of banking in South Africa

The development shows that Ripple is aiming to be a foundational rails provider for tokenised finance in Africa. If more banks follow suit, it could mean tokenised assets moving from being a relatively niche play to a mainstream asset class. – © 2025 NewsCentral Media

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