Absa has become the first bank in Africa to provide digital-asset custody to institutional clients, with Bitcoin accounting for the largest share of assets held through the service. The Johannesburg-based lender launched its Ripple-powered institutional custody platform in South Africa on September 21, 2026, serving asset managers, non-bank financial institutions and companies. The bank applies its governance and compliance framework to the safeguarding of private keys and transaction approvals, and plans to consider additional client groups, crypto assets and African markets subject to customer demand and regulatory approvals. South Africa received about $36 billion in crypto value between July 2024 and June 2025, Chainalysis said, placing it second in Sub-Saharan Africa behind Nigeria.