Absa Partners with Ripple to Offer Digital Asset Custody
Absa has announced a partnership with Ripple to provide institutional-grade digital asset custody to institutional clients in South Africa.
The partnership will utilize Ripple's blockchain infrastructure to offer secure storage solutions for tokenized assets, including cryptocurrencies.
The move marks a significant turning point in how traditional banks in Africa engage with cryptocurrencies and the tokenisation wave.
- The partnership signals that custody is becoming a necessary component of financial infrastructure.
- It is Ripple's first major custody partnership in Africa, driven by increasing demand in emerging markets!.
Author's summary: Absa joins Ripple for digital asset custody in South Africa.