Ripple establishes custody partnership with South Africa's Absa Bank

Foresight News reported that Ripple has announced a strategic partnership with South Africa's Absa Bank to provide digital asset custody services for the bank's clients in South Africa. Through this collaboration, Absa will utilize Ripple's institutional-grade digital asset custody technology to offer storage services for tokenized assets, including cryptocurrencies.

Earlier this year, Ripple announced it would support Absa with crypto payment technology, support African payment provider Chipper Cash, and revealed that its USD-backed stablecoin RLUSD would be launched in Africa.