Ripple has teamed up with Absa Bank to offer South
Africa’s financial institutions access to institutional-grade digital asset
custody. The partnership allows the bank’s customers to store
cryptocurrencies and tokenized assets using Ripple’s custody technology. It comes amid a growing appetite for
blockchain-based solutions in Africa’s emerging markets.
Digital assets meet tradfi in London at the fmls25
Partnership Brings Custody Infrastructure to Africa
Absa becomes Ripple
Ripple
Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may
Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may
Read this Term’s first major custody partner on
the continent, leveraging the firm’s technology to offer scalable and compliant
storage for digital assets.
“Africa is experiencing a major shift in how value is
stored and exchanged, and our partnership with Absa underscores Ripple’s
commitment to unlocking the potential of digital assets on the continent,” commented
Reece Merrick, Managing Director for Middle East and Africa at Ripple.
“As one of the most respected and innovative banks in
Africa, Absa has a strong track record of innovation and leadership, and we’re
proud to support its digital asset ambitions with the most secure and compliant
custody infrastructure on the market,” he shared.
Regulatory clarity is gradually improving across
Africa, and institutional interest in digital assets is rising. Ripple’s
infrastructure aims to give banks like Absa confidence to explore
blockchain-based offerings while meeting strict operational and security
standards.
Absa Aims to Modernize Customer Offerings
This collaboration builds on Ripple’s earlier work in
Africa, including supporting Chipper Cash with crypto-enabled payments and
launching its USD-backed stablecoin
Stablecoin
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Read this Term RLUSD in regional markets.
According to Ripple’s report, 64% of finance leaders
in the Middle East and Africa believe faster payments and settlement times are
the main reason to adopt blockchain currencies for cross-border flows. Ripple’s
infrastructure positions it to support banks and financial institutions in storing, exchanging, and moving digital assets.
Related: Ripple to Acquire Stablecoin Payments Firm Rail for $200M, XRP Jumps 4%
With over a decade in the digital asset space and more
than 60 regulatory licenses worldwide, Ripple continues to expand its global
custody network across Europe, Asia-Pacific, Latin America, and now Africa.
The partnership between Ripple and Absa highlights
growing institutional interest in blockchain solutions in Africa. As banks seek
to modernize operations and meet customer demand for secure digital asset
services, partnerships like this may pave the way for wider adoption of
blockchain and crypto solutions across the continent.
Africa is fast adopting blockchain
technology. In the Eastern part of the continent, Kenya’s parliament approved a crypto Bill this week, marking a major step toward regulating digital currencies and
virtual assets in the country.
The bill outlines licensing requirements for
cryptocurrency exchanges and token issuers and aims to boost transparency,
investor protection, and compliance standards.
Ripple has teamed up with Absa Bank to offer South
Africa’s financial institutions access to institutional-grade digital asset
custody. The partnership allows the bank’s customers to store
cryptocurrencies and tokenized assets using Ripple’s custody technology. It comes amid a growing appetite for
blockchain-based solutions in Africa’s emerging markets.
Digital assets meet tradfi in London at the fmls25
Partnership Brings Custody Infrastructure to Africa
Absa becomes Ripple
Ripple
Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may
Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may
Read this Term’s first major custody partner on
the continent, leveraging the firm’s technology to offer scalable and compliant
storage for digital assets.
“Africa is experiencing a major shift in how value is
stored and exchanged, and our partnership with Absa underscores Ripple’s
commitment to unlocking the potential of digital assets on the continent,” commented
Reece Merrick, Managing Director for Middle East and Africa at Ripple.
“As one of the most respected and innovative banks in
Africa, Absa has a strong track record of innovation and leadership, and we’re
proud to support its digital asset ambitions with the most secure and compliant
custody infrastructure on the market,” he shared.
Regulatory clarity is gradually improving across
Africa, and institutional interest in digital assets is rising. Ripple’s
infrastructure aims to give banks like Absa confidence to explore
blockchain-based offerings while meeting strict operational and security
standards.
Absa Aims to Modernize Customer Offerings
This collaboration builds on Ripple’s earlier work in
Africa, including supporting Chipper Cash with crypto-enabled payments and
launching its USD-backed stablecoin
Stablecoin
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Read this Term RLUSD in regional markets.
According to Ripple’s report, 64% of finance leaders
in the Middle East and Africa believe faster payments and settlement times are
the main reason to adopt blockchain currencies for cross-border flows. Ripple’s
infrastructure positions it to support banks and financial institutions in storing, exchanging, and moving digital assets.
Related: Ripple to Acquire Stablecoin Payments Firm Rail for $200M, XRP Jumps 4%
With over a decade in the digital asset space and more
than 60 regulatory licenses worldwide, Ripple continues to expand its global
custody network across Europe, Asia-Pacific, Latin America, and now Africa.
The partnership between Ripple and Absa highlights
growing institutional interest in blockchain solutions in Africa. As banks seek
to modernize operations and meet customer demand for secure digital asset
services, partnerships like this may pave the way for wider adoption of
blockchain and crypto solutions across the continent.
Africa is fast adopting blockchain
technology. In the Eastern part of the continent, Kenya’s parliament approved a crypto Bill this week, marking a major step toward regulating digital currencies and
virtual assets in the country.
The bill outlines licensing requirements for
cryptocurrency exchanges and token issuers and aims to boost transparency,
investor protection, and compliance standards.
