Absa Corporate and Investment Banking launched a digital asset custody service for corporate and institutional clients in South Africa. The bank built the platform using Ripple’s custody technology to provide secure asset storage, private-key management and transaction controls.
Absa Digital Asset Custody gives institutions a bank-operated environment for safeguarding cryptocurrencies and other tokenized assets. The service focuses on custody rather than trading. Therefore, clients can store digital assets without relying on retail exchanges or managing private keys through their own systems.
The platform includes key-management tools, approval workflows and transaction controls. It also maintains audit trails, allowing institutions to review activity and show who approved each action. Absa says these controls can help clients address security, governance and regulatory requirements when holding digital assets.
Ripple supplies the technology behind Absa’s custody platform. Its system allows financial institutions to control private keys, create approval policies and manage digital assets within their existing operating structures. Absa remains responsible for its service and its relationships with institutional customers.
Reece Merrick, Ripple’s managing director for the Middle East and Africa, described the rollout as a new standard for institutional custody on the continent. “By leveraging Ripple’s custody technology, Absa is setting a new benchmark for secure, compliant, and bank-grade digital asset management on the continent,” Merrick said.
The two companies first announced their partnership on October 15, 2025. At the time, Ripple identified Absa as its first major custody partner in Africa. The agreement covered secure and scalable storage for tokenized assets, including cryptocurrencies.
Absa designed the custody product for corporate and institutional customers, not retail users. These clients often require stronger approval controls, clear records, and defined access rules before they can hold digital assets. The platform allows organizations to set those controls while keeping custody within a bank-led service.
However, Absa has not disclosed which cryptocurrencies or tokenized assets the platform currently supports. The bank has also not published its fees or named its first customers. Prospective clients must contact Absa’s sales team for information about access, eligibility and service terms.
Robyn Lawson, Absa CIB’s head of digital product for custody, previously said the bank selected Ripple because its system met Absa’s security and operational requirements. According to Absa, the partnership supports the secure management of private keys used to access and transfer digital assets.
Absa plans to develop the platform further as institutional demand changes. The bank will also monitor South Africa’s regulatory framework while deciding which functions and assets to add. Any expansion will depend on customer needs, compliance requirements and operating conditions.
Meanwhile, Ripple continues to expand its institutional custody business. In February 2026, the company added Securosys hardware security modules and Figment staking capabilities to its custody offering. Those additions give financial institutions more options for protecting private keys and managing supported proof-of-stake assets.
The Absa launch moves the partnership from an announced plan to a live institutional service. It also gives eligible South African organizations another route for holding digital assets through a bank, with Ripple providing the underlying custody infrastructure.
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