Ripple, a leading digital asset infrastructure provider for financial institutions has made a bold step by venturing into the African blockchain space. The firm, through a blog post released on Wednesday announced its first major custody partnership in Africa by collaborating with Absa. 

With the partnership, Absa, one of the renowned banks in South Africa will tap into the institutional-grade infrastructure of Ripple to offer a scalable and secure storage for cryptocurrencies including tokenized assets. As indicated, Ripple said it selected the banking giant due to its status as one of the leading financial institutions in Africa. 

More so, the company added that the partnership became a reality due to growing demand for secure and regulatory-friendly digital asset infrastructure across emerging hubs including Africa. By securing its first partnership in the region, Ripple now has partners across key regions like Europe, the Middle East, Asia-Pacific, Latin America, and Africa.

Ripple went on to mention how institutional interest in blockchain-powered solutions is rising as an alternative investment across Africa. Likewise, Ripple stated that it noticed an increasing demand for some of its payment solutions in Africa from crypto-native firms and traditional financial institutions. 

In the statement, the firm mentioned how a significant portion of industry leaders opined that faster completion time is a key criterion for the embracement of digital assets. Hence, the company added that its infrastructure will empower Absa to explore new virtual asset services while maintaining strict security, operational, and regulatory standards. 

Additionally, the firm said its growing list of partners underlines its unwavering commitment towards supporting financial institutions as they embrace the opportunities presented by digital asset technology. 

Key insights 

Meanwhile, the collaboration between Ripple and Absa indicates how the former in recent times is attempting to break into the African market. So far in 2025, Ripple has made bold moves like its support for popular African payment processor, Chipper Cash. 

Similarly, the firm also avails its newly launched USD-backed stablecoin, RLUSD ($1.00) in the region. Currently, Ripple holds more than 60 regulatory licenses across various jurisdictions.  

Reece Merrick, the Managing Director, Middle East and Africa, of Ripple said Africa is experiencing a noticeable shift in how value is stored and transferred in the region. Merrick said the partnership indicates Ripple’s commitment to unlocking the potential of digital assets on the continent. 

The executive added that the financial institution is glad to join forces with Ripple to support the quest for the advancement of Africa’s blockchain market. Meanwhile, Robyn Lawson, Head of Digital Product, Custody at Absa Corporate and Investment Banking discussed how the evolving financial ecosystem demands setting up secure and robust custody solutions for digital assets. 

Lawson emphasized how the partnership will help deliver the next generation of financial infrastructure. 

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