First National Bank Launches Crypto Trading for 9 Million Clients
South Africa's First National Bank has integrated crypto trading into its banking app through a partnership with exchange VALR, allowing retail clients to trade five digital assets.
First National Bank (FNB) has launched a new feature called Crypto Investing, enabling its nearly 9 million retail clients to trade digital assets directly within the bank's existing share-trading platform. The service, announced on October 6, 2026, is powered by a partnership with local crypto exchange VALR.
The platform currently supports five assets: Bitcoin, Ethereum, XRP, Solana, and the USDT stablecoin. Users can execute trades 24/7 using funds directly from their FNB accounts, with a minimum trade size of R10, or approximately $0.60.
The integration is available across FNB's existing investment products, including Share Saver, Share Builder, Share Investor, and Share Zero. While the service simplifies access, assets purchased through the platform remain within the bank's ecosystem. Clients are currently unable to transfer their holdings to external wallets or other exchanges.
FNB stated that this restriction is in place to comply with South African exchange-control regulations and to mitigate security risks, such as preventing users from sending funds to fraudulent platforms or scam wallets. The bank noted that it intends to expand the list of supported assets and provide educational resources to help clients navigate the risks associated with digital currencies.
The move follows a similar arrangement between Discovery Bank and crypto exchange Luno in November 2025. According to data from late 2025, more than 6 million South Africans held crypto assets, with over R25 billion in digital assets reported under custody at major platforms.
FNB executives cited strong customer demand for alternative investments as the primary driver for the launch, positioning the bank as a secure gateway to the crypto market.
