South African bank Absa has launched Absa Digital Asset Custody, powered by Ripple’s custody technology. The service provides institutional clients with a secure, regulated environment to safeguard and manage digital assets, including cryptocurrencies and tokenized real-world assets.
Key Overview
- Absa launched Absa Digital Asset Custody on September 21, 2026.
- The platform uses Ripple’s custody technology.
- It targets institutional clients, including corporate clients and asset managers.
- The service will support the custody of cryptocurrencies such as Bitcoin and XRP.
- It will also support tokenized real-world assets and settlement.
- Absa has not yet disclosed specific supported assets or fees.
- The launch follows an 11-month partnership development.
Absa Launches Digital Asset Custody Service
South African bank Absa has launched Absa Digital Asset Custody, powered by Ripple’s custody technology, marking a first for Africa’s institutional digital asset management.
The service provides a secure and regulated environment for safeguarding digital assets and is aimed at institutional clients as crypto adoption continues to develop in South Africa.
The launch follows an 11-month partnership development and comes as South Africa’s crypto regulatory framework evolves alongside growing investor interest in digital assets.
Absa has not disclosed specific assets or fees for the service but is positioning the platform to address a gap in the local market, where many crypto investors currently use exchanges rather than banks.
Ripple Technology to Power Crypto Custody
On September 21, 2026, Ripple Middle East and Africa Managing Director Reece Merrick confirmed the partnership with Absa Corporate and Investment Banking.
Merrick said Ripple is partnering with Absa Corporate and Investment Banking on the launch of Absa Digital Asset Custody.
Under the partnership, Absa will use Ripple’s custody technology to securely store and manage cryptocurrencies such as Bitcoin and XRP, along with tokenized real-world assets.
The platform will also support settlement for corporate clients and asset managers.
Absa Head of Digital Product, Custody Robyn Lawson said the bank selected Ripple’s technology because it meets high security and operational standards.
Ripple Expands Banking Footprint in Africa
The launch builds on a partnership announced in October 2025, when Absa became Ripple’s first major custody partner in Africa.
With Absa managing more than 2.07 trillion South African rand ($119.5 billion) in assets, the partnership provides Ripple with a major banking partner for expanding digital asset custody services across the continent.
Ripple also has other activities in the region. The company works with Chipper Cash on crypto-based cross-border payments and has expanded its RLUSD stablecoin through partnerships with Chipper Cash, VALR and Yellow Card.
Africa’s Growing Crypto Market
The Absa launch comes as crypto activity continues to grow across Africa.
According to Chainalysis data, Sub-Saharan Africa recorded more than $205 billion in on-chain transaction value over the 12 months through June 2025, making it the third-fastest-growing crypto region globally.
Ripple’s 2025 New Value Report also found that 64% of financial leaders across the Middle East and Africa identified faster payments and settlement as a major reason to adopt blockchain-based currencies.
The growth in digital asset activity is creating demand for infrastructure that can support institutional custody, settlement and asset management.
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Focus on Institutional Digital Assets
Absa Digital Asset Custody is focused on institutional rather than retail crypto services.
The platform is designed to provide corporate clients and asset managers with custody and settlement capabilities through a banking environment.
The use of Ripple’s custody technology allows Absa to provide infrastructure for storing and managing digital assets while operating within its banking framework.
The service also extends beyond cryptocurrencies by supporting tokenized real-world assets.
XRP and Ripple’s Role
The launch is significant for XRP because Ripple’s custody infrastructure will be used within a major African banking group.
Bitcoin and XRP are among the cryptocurrencies identified for custody under the partnership, while the platform will also support tokenized real-world assets.
However, Absa has not yet disclosed the full list of supported assets or the fees that will apply to the service.
Outlook
Absa’s launch of Digital Asset Custody adds institutional crypto custody infrastructure to South Africa’s banking sector through its partnership with Ripple.
The platform is designed to provide custody and settlement services for corporate clients and asset managers, including support for cryptocurrencies such as Bitcoin and XRP and tokenized real-world assets.
As crypto activity continues to grow across Sub-Saharan Africa, the service provides another banking-based route for institutional participants seeking digital asset custody and settlement capabilities.
FAQs
1. What is Absa Digital Asset Custody?
It is Absa’s digital asset custody service, powered by Ripple’s custody technology, designed to provide institutional clients with a secure and regulated environment for managing digital assets.
2. Which digital assets will the platform support?
The service will support cryptocurrencies such as Bitcoin and XRP, as well as tokenized real-world assets. Absa has not disclosed the full list of supported assets.
3. Who will use Absa Digital Asset Custody?
The platform targets institutional clients, including corporate clients and asset managers, and will also support digital asset settlement.
4. Why is the partnership significant for Ripple?
The launch makes Absa a major banking partner for Ripple’s custody technology in Africa and provides a platform for expanding institutional digital asset custody services across the continent.
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