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|4 min ReadRipple teams with Absa to launch digital asset custody in Africa
Maya Chen
Senior Analyst
Published
Jan 16, 2026
2025-10-17
Ripple plants a custody flag in Africa
Ripple is moving into African banking with intent. The company said South Africa’s Absa will use Ripple’s infrastructure to offer digital asset custody to customers, calling Absa its “first major custody partner in Africa.” Read the announcement: https://ripple.com/ripple-press/ripple-expands-global-custody-footprint-into-africa-with-absa-bank/
Absa is a heavyweight on the continent, managing 2.07 trillion South African rands (6.34 billion of revenue in 2024, per its results booklet: https://www.absa.africa/wp-content/uploads/2025/03/Results-booklet-for-the-period-ended-31-December-2024-double-page.pdf. Ripple framed the move as meeting rising demand for secure, compliant digital asset infrastructure across emerging markets. “The partnership underscores Ripple’s commitment to unlocking the potential of digital assets on the continent,” said Reece Merrick, Ripple’s managing director for the Middle East and Africa.
The tie-up follows Ripple’s broader Africa push. In late March, Ripple partnered with African payments firm Chipper Cash to support crypto-enabled cross-border payments. Last month, Ripple introduced its Ripple USD stablecoin (RLUSD) to Africa through partners Chipper Cash, exchange VALR, and payments provider Yellow Card. Ripple’s stablecoin lead Jack McDonald said distribution has begun via local partners. Big market. Big rails. Potentially tremendous.
Custody push widens across banks
Ripple has been building a custody franchise for more than a year, explicitly aimed at serving banks and fintechs on the back end. The company filed a trademark for its custody service in mid-March and has been onboarding institutions since. That followed its acquisition of licensed custodian Standard Custody last summer.
Momentum isn’t limited to Africa. Earlier this month, Ripple partnered with Bahrain Fintech Bay to bring its custody solution alongside RLUSD to Bahrain’s financial institutions. In September, Ripple agreed to provide crypto custody services to Spain’s BBVA. In early August, South Korean custodian BDAas launched institutional custody support for XRP after partnering with Ripple. The groundwork goes back further: in late 2023, Ripple worked with HSBC to launch an institutional custody platform for tokenized securities. One playbook, many banks. Everybody knows it.
TradFi taps crypto rails
Traditional finance keeps leaning into crypto. BlackRock’s crypto products helped power a strong quarter for earnings and revenue, and its spot Bitcoin ETF has reportedly generated nearly $245 million in fees over the past year. Morgan Stanley has told its advisers that all clients will be able to invest in cryptocurrency funds. BNY is exploring tokenized deposits to enable 24/7 transfers.
Sovereigns are testing exposure, too. Luxembourg’s sovereign wealth fund allocated 1% of its portfolio to Bitcoin ETFs. Norway’s fund increased its indirect Bitcoin exposure by 192% over the past year. The Czech National Bank boosted its holdings of U.S. exchange Coinbase and is studying a Bitcoin test portfolio; a Swedish MP even proposed a “budget-neutral” Bitcoin reserve.
For Ripple, the Absa partnership puts a clear stake in the ground: custody for institutions, delivered through compliant pipes, in a region hungry for modern rails. If the execution matches the ambition, adoption can compound fast.
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