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- Ripple partners with South Africa’s Absa Bank to launch institutional crypto custody.
- The move expands Ripple’s digital asset infrastructure across Africa.
- XRP rises 1% as institutional adoption gains momentum in emerging markets.
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Ripple has taken another decisive step in expanding its global presence by partnering with South Africa’s Absa Bank, one of the continent’s largest and most innovative financial institutions. The move marks Ripple’s first major institutional custody partnership in Africa — a milestone that highlights the growing convergence between traditional banking and digital assets.
Ripple and Absa Join Forces to Advance Crypto Custody in Africa
Under the partnership, Absa Bank will integrate Ripple’s institutional-grade digital asset custody technology to offer clients secure, scalable storage solutions. As crypto adoption accelerates across the Middle East and Africa, Ripple’s custody platform aims to meet the rising need for compliant and robust infrastructure supporting tokenized assets.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, praised Absa as a leader in innovation, emphasizing that the partnership reflects Ripple’s commitment to unlocking Africa’s potential in the digital economy.
Strengthening Africa’s Institutional Crypto Landscape
Absa’s Head of Digital Product and Custody, Robyn Lawson, said the bank recognizes the need to provide secure and regulated solutions as the financial ecosystem evolves. The partnership also aligns with Ripple’s broader regional strategy, following its collaboration with Chipper Cash, VALR, and Yellow Card to expand the Ripple USD (RLUSD) stablecoin into Africa for faster, lower-cost cross-border payments.
This expansion positions Ripple as a key enabler for financial institutions seeking to integrate digital assets into their offerings without compromising on compliance or security.
Ripple’s Global Custody Network Grows
The Ripple-Absa partnership follows a series of similar deals worldwide, including Spain’s BBVA, which adopted Ripple’s custody solution to safeguard Bitcoin, Ethereum, and tokenized assets. Ripple has also joined forces with major global banks like HSBC and DBS, reinforcing its role as a trusted bridge between crypto and traditional finance.
Also Read: Ripple Expands into Bahrain Through Strategic Fintech Partnership
As tokenization gains traction and regulatory frameworks mature, Ripple continues to solidify its foothold in markets hungry for secure digital asset infrastructure. XRP’s price has reflected modest optimism, rising 1% in the past 24 hours to $2.50 despite a 20% drop in trading volume.
Ripple’s collaboration with Absa Bank marks a pivotal moment for Africa’s institutional crypto adoption. With secure custody solutions becoming central to the next wave of financial innovation, this partnership positions both Ripple and Absa at the forefront of Africa’s digital finance evolution.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
