Ripple partners with South African bank Absa to offer digital asset custody services, making Absa the first major custody partner in Africa. Absa manages 2.07 trillion South African rands and saw $6.34 billion in revenue last year. The partnership aims to meet the growing demand for digital asset infrastructure in emerging markets.

Ripple expands its presence in Africa by partnering with African payment infrastructure provider Chipper Cash for cross-border payments. The company also introduced its Ripple USD stablecoin in Africa, distributed through local partners. Ripple’s commitment to unlocking the potential of digital assets in Africa is highlighted by these initiatives.

Ripple launches a custody service and partners with institutions globally, including Bahrain Fintech Bay and Spanish bank BBVA, for custody solutions. South Korean crypto custodian BDAas offers XRP institutional custody support following its partnership with Ripple. Ripple has been expanding its custody efforts over the past few years.

Traditional finance embraces the crypto landscape as BlackRock’s crypto products drive strong earnings and revenue. Morgan Stanley allows all clients to invest in cryptocurrency funds, while BNY explores tokenized deposits for instant fund transfers. Nation-states like Luxembourg and Norway invest in Bitcoin ETFs, signaling a broader adoption of crypto in traditional finance.

Read more at Cointelegraph: South African Bank Absa Taps Ripple for Crypto Custody