Ripple Partners With Absa Bank to Launch Digital Asset Custody in South Africa
Ripple has entered right into a strategic partnership with Absa Bank, one in every of South Africa’s largest monetary establishments, to present digital asset custody providers for institutional purchasers.
Key Takeaways:
- Ripple partnered with Absa Bank to launch its first digital asset custody service in Africa.
- The deal permits Absa to supply safe, compliant storage for tokenized belongings utilizing Ripple’s know-how.
- The transfer strengthens Ripple’s world custody community and expands its affect throughout rising African fintech markets.
The transfer marks Ripple’s first main custody partnership in Africa, extending the corporate’s attain into one of many world’s fastest-growing fintech markets.
Absa Bank to Offer Tokenized Asset Storage Using Ripple’s Custody Tech
Under the settlement, Absa will combine Ripple’s institutional-grade digital asset custody know-how, enabling the financial institution to supply safe and scalable storage options for tokenized belongings, together with cryptocurrencies.
The partnership comes amid rising demand for compliant digital asset infrastructure throughout rising markets and rising regulatory readability round different investments in Africa.
“Africa is experiencing a serious shift in how worth is saved and exchanged,” stated Reece Merrick, Ripple’s Managing Director for the Middle East and Africa.
“Our partnership with Absa underscores Ripple’s dedication to unlocking the potential of digital belongings on the continent,” he added.
Ripple’s world custody community now spans Europe, the Middle East, Asia-Pacific, Latin America, and Africa, supporting monetary establishments as they embrace tokenization and blockchain-based finance.
The firm’s custody infrastructure meets strict operational, safety, and regulatory requirements, permitting establishments like Absa to safely enter the digital asset area whereas sustaining compliance.
The partnership expands Ripple’s footprint in Africa, following earlier collaborations reminiscent of Chipper Cash, which makes use of Ripple’s crypto-enabled funds know-how, and the deliberate rollout of Ripple’s USD-backed stablecoin, RLUSD, throughout choose African markets.
According to Ripple’s 2025 New Value Report, 64% of finance leaders in the Middle East and Africa see sooner funds and settlement instances as the first cause for adopting blockchain-based currencies in cross-border transactions.
With over 60 regulatory licenses and registrations worldwide, Ripple continues to place itself as a serious supplier of compliant digital asset infrastructure for banks and fee companies globally.
Ripple Expands Dollar-Backed Stablecoin RLUSD to Africa
As reported, Ripple has prolonged the attain of its US dollar-backed stablecoin, Ripple USD (RLUSD), into Africa, forming new partnerships with fintech platforms Chipper Cash, VALR, and Yellow Card.
The transfer opens regulated entry to a steady digital greenback for institutional customers throughout the continent, the place demand for dependable cross-border fee infrastructure continues to develop.
Launched in late 2024, RLUSD is issued by a New York belief firm regulated by the state’s Department of Financial Services and has surpassed $700 million in provide on Ethereum and the XRP Ledger.
Beyond funds, RLUSD can also be enjoying a job in real-world use circumstances. In Kenya, Mercy Corps Ventures is piloting the stablecoin in local weather danger insurance coverage applications.
In one initiative, RLUSD is held in escrow and launched routinely when satellite tv for pc information detects drought circumstances.
Another pilot gives rainfall insurance coverage, with funds disbursed in the occasion of maximum climate.
In July, Zug-based crypto financial institution AMINA additionally announced that it will support Ripple stablecoin RLUSD, initially providing custody and buying and selling providers.
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