TLDR
- First National Bank launched Crypto Investing on October 6 for nearly 9 million retail customers.
- Customers can trade Bitcoin, Ethereum, XRP, Solana and USDT from R10, 24 hours a day.
- The service runs through FNB’s existing share-trading platform in partnership with South African exchange VALR.
- Crypto cannot be moved into or out of the platform because of security, compliance and exchange-control rules.
- FNB plans to add more assets and educational content but has not given a timeline.
South Africa’s First National Bank has launched a crypto trading service for nearly 9 million retail customers. The service, called Crypto Investing, went live on October 6.
Customers can buy, sell and trade selected cryptocurrencies through the bank’s existing share-trading platform. They do not need to open a separate account with a crypto exchange.
The service supports five digital assets at launch. These are Bitcoin, Ethereum, XRP, Solana and USDT, a stablecoin issued by Tether that is pegged to the US dollar.
Trades start from as little as R10, or 10 South African rand. Trading is available 24 hours a day, seven days a week.
Customers can access crypto through FNB’s Share Saver, Share Builder, Share Investor and Share Zero products. Purchases are funded directly from their FNB accounts.
Crypto Stays Inside FNB
The service works differently from a typical crypto exchange. Customers cannot withdraw their crypto to an outside wallet or send it to another exchange.
They also cannot bring crypto they already own on another platform into the FNB service. The bank said the service is ring-fenced within its own system.
FNB cited security, compliance and South African exchange-control rules as reasons for this setup. As a result, the service offers market exposure but not the control that comes with a self-custody wallet.
Customers can buy and sell the supported assets as an investment. However, they cannot use them directly on blockchain networks.
VALR Provides the Trading Technology
FNB partnered with VALR, a South African crypto exchange, to power the service. VALR was founded in 2018 and is based in Johannesburg.
VALR says it serves more than one million users and nearly 1,000 corporate and institutional clients. It holds South African Financial Services Provider licenses and is registered as an accountable institution with the Financial Intelligence Centre.
The deal lets FNB add crypto to its platform without sending customers to a separate exchange. It also gives VALR access to a large banking customer base.
Bheki Mkhize, CEO of FNB Wealth and Asset Management, said the bank had seen rising customer interest in crypto. “Clients require a trusted platform, which FNB provides,” he said. “This gives them access to alternative assets to help diversify their investments.”
FNB joins other South African banks moving into digital assets. Discovery Bank previously partnered with Luno, letting customers buy, hold and sell crypto through linked Luno accounts.
Absa has partnered with Ripple on institutional digital-asset custody. Nedbank has been working with Crypto.com on blockchain-based payment, settlement and liquidity solutions.
FNB’s service is focused on retail investors. It brings crypto into a banking and investment platform that customers already use.
The bank said it plans to add more crypto assets and educational content over time. It has not said which assets will be added or when they will become available.
As of October 7, 2026, FNB customers can trade five cryptocurrencies from R10 through the platform. Crypto still cannot be transferred into or out of the service.
