Key highlights:
- Absa has launched digital asset custody for institutional clients, leveraging Ripple’s infrastructure
- The partnership extends Ripple’s presence across Africa, underscored by investments in Flutterwave and collaborations with YellowCard and Chipper Cash
- XRP surged by 7% following Absa’s announcement to trade at nearly $1.50
Ripple is deepening its presence in Africa through a partnership with Absa Corporate and Investment Banking to launch the bank’s digital asset custody service in South Africa. The move continues Ripple’s red-hot streak of teaming up with financial service providers on the African continent.
Absa brings bank-grade custody to digital assets
Absa has launched its digital asset custody service for customers, leaning on Ripple’s infrastructure for financial institutions. The service, dubbed Absa Digital Asset Custody, provides a regulated environment for safeguarding digital assets and managing the private keys that control them.
A major milestone for institutional digital assets in Africa!
We’re proud to partner with @Absa_CIB Corporate and Investment Banking on the launch of Absa Digital Asset Custody.
By leveraging @Ripple’s custody technology, Absa is setting a new benchmark for secure, compliant,… https://t.co/ILo9DcQ1PD
— Reece Merrick (@reece_merrick) September 21, 2026
In a statement, the South African bank noted that the service is designed around institutional standards for governance, security, compliance, and transaction approvals. Absa Digital Asset Custody is aimed at institutional clients rather than the retail crypto market.
Absa uses Ripple technology for a range of functions, including broadcasting transactions to blockchain networks, while its custody architecture incorporates a secure hardware environment and layered authorization controls. Absa’s offering uses deterministic key derivation rather than permanently storing private keys to reduce the risk associated with a single point of failure.
Back in October 2025, Ripple and Absa inked the partnership deal with the South African bank, fine-tuning its institutional custody service for the greater part of 2026. Reece Merrick, Ripple’s Managing Director for Middle East & Africa, hailed the rollout as a “new benchmark” for Africa.
“We’re proud to partner with Abas Corporate and Investment Banking on the launch of Absa Digital Asset Custody,” said Merrick. “By leveraging Ripple’s custody technology, Absa is setting a new benchmark for secure, compliant, and bank-grade digital asset management on the continent.
XRP is benefiting from the crypto market’s recent momentum, with the coin surging by 8.5% over the last 24 hours. At press time, XRP is exchanging hands at $1.49 while daily trading volumes have surged over the last day.
Ripple burrows deeper into Africa
For Ripple, the partnership places its custody infrastructure inside one of Africa’s major banking groups as institutional interest in digital assets develops. Absa says it plans to continue expanding the service according to client requirements and changes in the regulatory environment.
Ripple has also expanded its presence through crypto-enabled payments technology with Africa-based payments company Chipper Cash and the introduction of its RLUSD stablecoin to the African market.
Meanwhile, Ripple has struck partnerships with regulated fintechs on the continent, including VALR and Yellow Card. Ripple also partnered with MFS Africa to utilize On-Demand Liquidity (ODL) for mobile cross-border payments.
Back in June 2026, Ripple joined the Series E funding round for Flutterwave, valuing the company at $3.2 billion. The move also embeds Ripple’s RLUSD stablecoin and the XRP Ledger (XRPL) into Flutterwave’s payment rails.
Source:: Ripple Wades Deeper Into Africa WIth Absa Digital Asset Custody Deal