Absa Takes Lead in African Digital Asset Custody

Absa Group Ltd. has become the first bank in Africa to offer institutional-grade digital-asset custody, launching its Absa Digital Asset Custody platform in South Africa on September 21, 2026.

The service provides safekeeping, administration, and transfers of digital assets within a regulated banking environment, targeting asset managers, non-bank financial institutions, corporates, and treasury functions.

The platform currently supports four categories of assets: Bitcoin (BTC), Ether (ETH), Assets on the XRP Ledger (XRPL), and USD Coin (USDC). According to Absa, Bitcoin makes up the largest share of assets under custody.

Absa has partnered with Ripple to provide this service, which gives it ready-built infrastructure. The platform runs within the bank's existing governance and compliance frameworks and operates under South African regulatory oversight.