Absa Partners with Ripple for Digital Asset Custody
Absa has partnered with Ripple to offer institutional-grade digital asset custody to institutional clients in South Africa.
The partnership will utilize Ripple's blockchain infrastructure to provide secure storage solutions for tokenized assets, including cryptocurrencies.
This move marks a significant turning point in how traditional banks in Africa engage with cryptocurrencies and tokenization.
Ripple's first major custody partnership in Africa
The partnership is in response to the accelerating demand in emerging markets for reliable and compliant digital asset infrastructure, according to Absa.
Absa's adoption of Ripple's custody platform signals that custody is becoming a necessary component of financial infrastructure.
Author's summary: Absa joins Ripple for digital asset custody in Africa.
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