Absa Rolls Out Institutional Crypto Custody Services with Ripple
Absa Bank has launched institutional digital asset custody in South Africa using Ripple's custody technology. The platform was rolled out after the bank's partnership agreement with Ripple in October 2025 and is available to institutional clients only.
The new service leverages the security controls of Ripple's custody solution, which includes secure hardware environments for storing private keys, deterministic key generation, and cryptographic recovery measures.
Absa Managing Director Reece Merrick said that this was an important step towards institutional digital asset services in Africa. The platform integrates with Ripple's blockchain transaction technology and is designed to ensure security, governance, recoverability, and control of transactions.