Partnership between Absa and Ripple
Big-four bank Absa has entered into a strategic partnership with Ripple, a provider of digital asset infrastructure for financial institutions.
Through the partnership, Absa will leverage Ripple’s digital asset custody tech to deliver storage for tokenised assets, including crypto-currencies.
- Absa becomes Ripple’s first major custody partner in Africa.
- The partnership responds to the growing demand for secure, compliant digital asset infrastructure across emerging markets.
The bank says the partnership will provide digital asset custody to its customers in South Africa.
Through the partnership, Absa will leverage Ripple’s digital asset custody technology to deliver storage for tokenised assets, including crypto-currencies.
Author’s summary: Absa partners with Ripple for digital asset custody.