- Absa Bank has rolled out institutional cryptocurrency custody services in South Africa, utilizing the custody services from Ripple.
- This is after their 2025 partnership agreement and at a time when South Africa is rolling out cryptocurrency regulation in the country.
Absa has officially rolled out the institution’s digital asset custody service in South Africa, leveraging the custody solution by Ripple. The official rollout of the project came after the partnership signed between Ripple and Absa back in October 2025, where the bank was made the first custody partner of Ripple in Africa. The new service marks a step up in this relationship from the proposed deployment into one that is geared towards institutional customers.
Clients in institutions will have the ability to manage their assets, transactions, and internal approvals via the custody platform. The platform also works within the governance and compliance model of Absa. This announcement was confirmed by Ripple Managing Director of Middle East and Africa Reece Merrick. Merrick stated that this was an important step towards institutional digital asset services in Africa.
A major milestone for institutional digital assets in Africa!
We’re proud to partner with @Absa_CIB Corporate and Investment Banking on the launch of Absa Digital Asset Custody.
By leveraging @Ripple’s custody technology, Absa is setting a new benchmark for secure, compliant,… https://t.co/ILo9DcQ1PD
— Reece Merrick (@reece_merrick) September 21, 2026
Custody Platform is Defined by Security Controls
According to Absa, the platform ensures that private keys are stored in secure hardware environments. This architecture is built with the intention of avoiding failures that might affect clients’ funds. The platform also uses deterministic key generation since it avoids keeping static private keys. The platform has cryptographic recovery measures for security in case of any potential problems in the system. Absa also integrates the platform with the blockchain transaction technology of Ripple.
Security, governance, recoverability, and control of transactions have been at the center of this platform design. Absa has not shared a full list of cryptocurrencies or other tokenized assets available through the platform. Absa has not released information about custody fees or initial institutional clients. The platform is not for retail trading, borrowing, or earning activities. The Ripple custody network already services financial institutions in different international markets using its technology.
The Development of Crypto Custody Rules in South Africa
As Absa partners with Ripple to provide institutional cryptocurrency custody services, the laws of South Africa continue to evolve. As per the FSCA guidelines, crypto custody services require authorization. Cross-border crypto transfer regulations are being drafted in the form of the Crypto Assets Manual. This has been done in consultation with the National Treasury and the South African Reserve Bank, and the deadline for making comments is till September 30, 2026. Ripple has also expanded their operations in Africa by entering into partnerships with Chipper Cash, VALR, and Yellow Card. Their acquisitions of Metaco and Palisade have enhanced institutional custody services.
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