South Africa’s FNB Launches Crypto Trading With VALR, Expanding Bank-Led Access To Digital Assets
First National Bank (FNB), part of South Africa’s second-largest banking group by assets, has launched a crypto investing service in partnership with licensed local exchange VALR. The offering allows customers to trade bitcoin, Ethereum, XRP, Solana and the USDT stablecoin directly through the bank’s existing share-trading platform.
Trading is available around the clock with a minimum investment of just R10, positioning the service as an accessible entry point for retail clients. According to Sizwe Nxedlana, CEO of FNB and RMB Private Banking and Wealth Management, the launch responds directly to sustained customer demand for alternative investment solutions. The platform offers a curated set of coins, and the bank says additional crypto investment options are planned as the service develops.
FNB’s move reflects a broader shift among South African lenders toward embracing digital assets, which have gained substantial traction with local consumers. Crypto assets held in custody at major local platforms — Luno, VALR and Ovex — exceeded R25 billion by late 2025, and more than six million South Africans are estimated to hold crypto assets. Southern Africa is regarded as one of the world’s largest markets for bitcoin adoption.
Bheki Mkhize, CEO of FNB Wealth and Asset Management, said the group has observed considerable activity and interest among its clients regarding cryptocurrency. He emphasized that clients require a trusted platform to access such alternative assets and diversify their investments, while also acknowledging the risks involved. The bank intends to equip clients with tools to manage trading activity and understand the volatility of crypto assets, and plans to expand its offering with more investment options and educational content.
Competition Intensifies as Discovery Bank Plans Wider Offering
FNB’s entry comes as competition in the sector accelerates. Discovery Bank, a central component of Discovery’s growth strategy, announced plans last year to introduce crypto trading in more than 50 digital assets, in partnership with Luno — South Africa’s leading crypto platform, used by more than 15 million clients globally.
Discovery Bank’s decision followed internal findings that one in ten of its clients already holds crypto assets, underscoring the extent of consumer engagement with digital currencies. Under that partnership, Discovery Bank customers can link their Luno accounts to buy, hold and sell assets such as bitcoin and Ethereum directly through the bank’s app.
The convergence of traditional banking and crypto in South Africa also carries a regulatory dimension. Luno has publicly called on the country’s regulators to revise outdated restrictions on digital currencies, arguing that local institutional investors are missing out on billions of rand in untapped potential.
With two of the country’s prominent banking groups now offering integrated crypto services, South Africa’s financial sector appears to be moving decisively toward mainstream acceptance of digital assets. FNB’s phased approach — starting with five curated assets and low entry thresholds — suggests incumbent banks are betting that regulated, bank-supervised access will capture demand currently served by standalone exchanges.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
