Absa Launches Africa's First Bank-Led Institutional Bitcoin Custody Platform Using Ripple

South African lender Absa has launched an institutional digital asset custody service, becoming the first bank on the African continent to custody Bitcoin. The Johannesburg-based bank rolled out the offering through its corporate and investment banking unit on September 21 using Ripple technology. The solution targets asset managers, corporate clients, and non-bank financial institutions following prior local regulatory approval. The initiative coincides with regional crypto expansion, with South Africa generating roughly $36 billion in crypto transaction value between July 2024 and June 2025, and Sub-Saharan Africa volume rising 52% to over $205 billion.