Ripple, the payment focused layer 1 (L1) blockchain network, is expanding its digital asset footprint across Africa. The company announced a partnership with Absa Bank, one of South Africa’s largest financial institutions, to provide institutional-grade digital asset custody services.
Ripple’s global custody network now spans Europe, the Middle East, Asia-Pacific, and Latin America. The company has also partnered with Chipper Cash to power crypto-enabled payments in Africa and recently introduced its USD-backed stablecoin, RLUSD, to the continent.
Ripple teaming up with Absa shows Africa’s finance scene is changing. The partnership is meant to build trust in cryptocurrency and make it easier for more people and institutions to join crypto safely.
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