Overview

• Ripple announced on Oct. 15 that it will extend its institutional custody infrastructure to Africa through a partnership with Absa Bank.
• Absa will use Ripple’s platform to store and manage cryptocurrencies and tokenized assets for clients with bank-grade security and compliance controls.
• Once live, the offering would make South Africa one of the few African markets with a major bank-backed crypto custody service.
• The deal advances Ripple’s 2025 expansion strategy, with its custody product already live with clients in Europe, Asia, and Latin America, and follows regional steps including a Chipper Cash collaboration and plans to roll out RLUSD.
• Ripple highlights regulatory readiness with over 60 licenses and points to survey data showing 64% of Middle East and Africa finance leaders favor blockchain for faster, lower-cost settlement.