Absa Bank Launches First African Institutional Crypto Custody Platform
Absa Corporate and Investment Banking has launched a Ripple-powered institutional crypto custody platform in South Africa. This marks a significant milestone for bank-grade digital asset infrastructure on the continent, as Absa is the first bank to offer such a service in Africa.
The new platform, called Absa Digital Asset Custody, was announced after a partnership between Absa and Ripple in October 2025. The service provides institutional clients with private-key management, transaction and approval controls, audit trails, and governance and compliance processes.
Ripple supplies the underlying custody technology and blockchain broadcast capabilities, while Absa provides the banking infrastructure and institutional client relationship. Reece Merrick, Ripple's Managing Director for the Middle East and Africa, described the launch as a major milestone for bank-grade digital asset infrastructure on the continent.