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- Ripple teams with Absa Bank to launch secure institutional digital asset custody across South Africa.
- RLUSD stablecoin grows past $700 million supply as the firm expands partnerships with African fintechs and humanitarian projects.
On Wednesday, Ripple announced that it has teamed up with Absa Bank, one of South Africa’s leading financial institutions, to introduce digital asset custody solutions for institutional clients. The partnership focuses on meeting the region’s growing demand for secure and compliant cryptocurrency infrastructure.
Through this collaboration, Absa will use Ripple’s technology to safeguard cryptocurrencies and tokenized assets for customers across its network in ten countries. The move expands Ripple’s operational reach into Africa, where demand for reliable blockchain-based financial solutions continues to climb.
Reese Merrick, Managing Director for Ripple in the Middle East and Africa, called Absa “one of Africa’s most respected and innovative banks.” He said this partnership shows the firm’s strong commitment to promoting regulated digital asset solutions across the continent.
Today, we’re excited to announce that @AbsaSouthAfrica, one of Africa’s leading financial institutions, is now @Ripple’s first major custody partner in Africa: https://t.co/9FQ5GTxMnK
We’re bringing institutional digital asset custody to South Africa, providing the secure and…
— Ripple (@Ripple) October 15, 2025
Ripple USD (RLUSD) Gains Ground in Africa
As reported by CNF, Ripple expanded into Africa by launching its US dollar–backed stablecoin, RLUSD. The company introduced RLUSD in late 2024 through a New York trust firm regulated by the state’s Department of Financial Services. The supply of RLUSD has already passed $700 million on both Ethereum and the XRP Ledger.
Earlier in the year, the company allied with fintech institutions Chipper Cash, VALR, and Yellow Card to expand access to the RLUSD in African markets. The initiative aimed to improve cross-border transactions and give both institutional and retail users a stable, regulated digital dollar.
In Kenya, Mercy Corps Ventures is pilot testing RLUSD in climate risk insurance projects. With this model, stablecoins are stored in escrow and are released automatically when satellite data verifies the occurrence of a drought. This process shows a direct link between blockchain technology and practical humanitarian efforts.
Ripple’s Global Custody Expansion
Ripple’s foray into Africa comes after a series of custody arrangements in other continents. Spain’s BBVA in September 2025 became a Ripple partner in Europe. Through its custody platform, the bank now offers clients secure storage for Bitcoin, Ether, and tokenized investment products.
The company has expanded its custody services to financial institutions across Europe, the Middle East, Asia Pacific, Latin America, and Africa. This expansion shows that institutions in regulated markets are demanding secure and compliant frameworks to manage digital assets.
Robin Lawson, the Head of Digital Products and Custody at ABSA, said that,
As we continue to innovate and respond to the evolving financial ecosystem, we recognise the importance of providing our customers with secure, compliant, and robust custody solutions for their digital assets. Ripple’s custody solution allows us to leverage proven and trusted technology that meets the highest security and operational standards.
Ripple’s partnerships show a clear effort to strengthen digital financial systems in emerging economies. The collaboration with Absa and the rollout of RLUSD reflect a shared strategy that connects custody, payments, and real-world applications.
