Absa launches Ripple powered digital asset custody service

Absa Corporate and Investment Banking launched Absa Digital Asset Custody in South Africa on September 21, 2026, a bank-led service built on Ripple's custody technology for corporate and institutional clients. The rollout marks the commercial debut of a partnership first announced on October 15, 2025, when Ripple named Absa its first major custody partner in Africa. Reece Merrick, Ripple's managing director for the Middle East and Africa, confirmed the September 21 launch and described it as a major milestone for institutional digital assets on the continent. The service gives institutions a secure environment for storing digital assets and managing the private keys that authorize blockchain transactions, with controls over assets, transactions and internal approvals operating under Absa's governance and compliance framework. Robyn Lawson, Absa CIB's head of digital product for custody, said the system combines Ripple's blockchain transaction capabilities with Absa's internal infrastructure, emphasizing security, governance, recoverability and controlled authorization.