Ripple has announced that it will provide digital asset custody services for Absa Bank, one of South Africa's largest financial services organisations.
The collaboration is meant to respond to growing demand for secure and compliant crypto infrastructure in the region.
Expanding global footprint
The partnership will help Ripple, which already has a strong presence in Europe, the Middle East, and the Asia-Pacific region, to further expand its footprint in the African market.
"Having spent time in South Africa earlier in my career, it holds a special place in my heart, so I'm delighted we’re bringing institutional-grade digital asset custody to one of the nation’s leading banks," Ripple's Reece Merrick said while commenting on the partnership.
As reported by U.Today, Ripple also joined forces with African fintech company Chipper Cash to enable cross-border payments in the region.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team