Absa CIB launches Ripple-powered crypto custody in South Africa
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Absa Corporate and Investment Banking went live on September 21 with a Ripple-powered institutional crypto custody product, the first bank-grade offering of its kind in Africa. The platform, called Absa Digital Asset Custody, now has a live product page at cib.absa.africa. The new custody platform follows the partnership between Absa and Ripple announced in October 2025. Absa Digital Asset Custody provides institutional clients with private-key management, transaction and approval controls, audit trails, and governance and compliance processes. The service is focused on custody rather than trading. Absa is effectively providing institutional clients with a banking-based environment for safeguarding and managing digital assets. 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. The Absa launch adds another piece to Ripple's broader push into institutional digital asset infrastructure. Ripple has been expanding across custody, payments, stablecoins and tokenization. Its custody technology is designed to give financial institutions controls around private keys, digital assets and...
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