Absa Corporate and Investment Banking (CIB) has launched an institutional digital asset custody service in South Africa, built on Ripple’s custody technology. The new offering gives corporate and institutional clients a bank-operated environment for storing cryptocurrencies and other tokenized assets.
What Absa Digital Asset Custody Offers
Absa Digital Asset Custody is designed for custody rather than trading. Clients can store digital assets without relying on retail exchanges or managing private keys through their own systems. The platform includes private-key management tools, approval workflows, transaction controls, and audit trails. These features help institutions meet security, governance, and regulatory requirements when holding digital assets.
Ripple Provides the Underlying Technology
Ripple’s custody technology powers the platform, allowing financial institutions to control private keys, define approval policies, and manage digital assets within their existing operating structures. Absa remains responsible for its service and customer relationships.
“By leveraging Ripple’s custody technology, Absa is setting a new benchmark for secure, compliant, and bank-grade digital asset management on the continent,” said Reece Merrick, Ripple’s managing director for the Middle East and Africa.
Absa and Ripple first announced their partnership on October 15, 2025, with Ripple identifying Absa as its first major custody partner in Africa.
Built for Corporate and Institutional Clients
The service is aimed at corporate and institutional clients, not retail users. It enables organizations to set stronger approval controls, defined access rules, and clear records while keeping custody within a bank-led service.
Absa has not disclosed which cryptocurrencies or tokenized assets are supported, nor has it published fees or named early customers. Prospective clients must contact Absa’s sales team for eligibility and service terms.
What’s Next for Absa and Ripple
Absa plans to expand the platform as institutional demand evolves, while monitoring South Africa’s regulatory framework. Future additions will depend on customer needs, compliance requirements, and operating conditions.
Ripple continues to grow its institutional custody business. In February 2026, it added Securosys hardware security modules and Figment staking capabilities, giving financial institutions more options for protecting private keys and managing proof-of-stake assets.