Overview
- Absa will integrate Ripple’s institutional custody technology to provide secure, scalable storage of cryptocurrencies and other tokenized assets for South African clients.
- Ripple described Absa as its first major custody partner on the African continent.
- Absa executive Robyn Lawson said the bank selected Ripple to deliver custody that meets strict security, operational and regulatory standards.
- Ripple’s Reece Merrick said the partnership reflects Africa’s shift in how value is stored and exchanged through digital assets.
- The move extends Ripple’s 2025 expansion in Africa, including support for Chipper Cash and the RLUSD stablecoin, as recent market volatility saw XRP whipsaw during an Oct. 10 flash crash.