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Absa Corporate and Investment Banking has launched its digital asset custody service in South Africa using Ripple’s institutional custody technology, moving a partnership announced nearly a year ago into commercial operation.
The service is aimed at corporate and institutional clients rather than retail users. Robyn Lawson, Absa CIB’s Head of Digital Product: Custody, said the bank’s first clients are already coming on board.
Ripple Technology Connects Absa Custody to Blockchain Networks
Absa Digital Asset Custody combines Ripple’s custody software with the bank’s own infrastructure, governance, and compliance controls. Absa says Ripple provides software and blockchain-broadcasting capabilities, while the bank adds its internal infrastructure and controls around transactions and approvals.
Keys and authorizations are protected in secure hardware environments. Absa also uses deterministic key derivation rather than static key storage, allowing private keys to be derived when required instead of being persistently stored. Recovery mechanisms are built into the system to preserve client access if infrastructure is disrupted.
October 2025 Ripple Partnership Moves Into Live Service
Absa and Ripple first announced the custody partnership on Oct. 15, 2025. At the time, the companies said Absa would use Ripple Custody to provide institutional storage for cryptocurrencies and tokenized assets in South Africa.
Ripple described Absa as its first major custody partner in Africa. Absa now says it is the first African bank to bring this type of digital asset custody service to market for corporate and investment banking clients. The launch moves the project beyond its previously announced development phase into a live banking service.
Full List of Supported Digital Assets Remains Undisclosed
The initial product focuses on safeguarding digital assets, private-key management and institutional transaction controls. Absa has not published a complete list of supported cryptocurrencies or tokenized assets alongside the launch.
The bank plans to develop the service further as client requirements and South Africa’s regulatory environment evolve. For Absa, the immediate change is that institutional digital asset custody has moved from a planned capability into a live service for clients in South Africa.
