Absa Group Ltd has become the first bank in Africa to offer institutional-grade digital-asset custody services. Its platform, launched on September 21, 2026 in South Africa, supports Bitcoin, Ether, XRPL assets and USDC, targeting asset managers, non-bank financial institutions, corporates and treasury functions. Built on Ripple technology, the service operates within South Africa’s existing regulatory framework and provides safekeeping, administration and transfer capabilities. South African crypto assets were projected to reach approximately 25.3 billion rand ($1.5 billion) by end of 2024. The launch positions Absa as a potential template for other African banks seeking to enter the digital-asset custody space.
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