Ripple Expands Custody Network to Africa Following RLUSD Rollout

Core Insights - Ripple is expanding its institutional custody infrastructure in Africa through a partnership with Absa Bank, marking Absa as Ripple's first major custody client on the continent and indicating increasing institutional interest in tokenized assets in emerging markets [1][4] Group 1: Partnership and Technology - Absa will utilize Ripple's digital asset custody technology to securely store and manage cryptocurrencies and tokenized assets for its clients, enhancing compliance and security as regulatory clarity improves in Africa [2][5] - The partnership aligns with Ripple's strategy to serve as a back-end provider of blockchain-based infrastructure for regulated institutions, with its custody offering already operational in Europe, Asia, and Latin America [3] Group 2: Market Expansion and Insights - The collaboration with Absa builds on Ripple's recent initiatives in Africa, including a partnership with Chipper Cash for crypto-enabled payments and the planned rollout of its USD-backed stablecoin, RLUSD, in African markets [4] - According to Ripple's 2025 New Value Report, 64% of finance leaders in the Middle East and Africa view faster settlement and reduced transaction costs as key benefits of integrating blockchain-based currencies into payment systems [4]