Ripple opens a new path in Africa with a custody agreement with Absa Bank

Ripple expands its digital asset custody infrastructure to Africa through a partnership with Absa Bank – one of the largest financial institutions in South Africa. Under the agreement, Absa will integrate Ripple's custody technology to manage cryptocurrencies and encrypted assets for its clients, providing safe and compliant services as the regulatory framework in the region becomes clearer. This marks Ripple's first institutional custody client in Africa, expanding its existing network in Europe, Asia, and Latin America. This collaboration reinforces Ripple's role as a bridge between traditional finance and digital assets, while also reflecting the trend of African banks adopting blockchain to increase efficiency and reduce transaction costs. Ripple is also expanding its presence in Africa with a payment project alongside Chipper Cash and plans for the issuance of the stablecoin RLUSD.