FNB Launches Crypto Trading on Banking Platform

FNB has integrated crypto trading into its banking platform, allowing customers to buy and sell a select range of cryptocurrencies through its existing share trading services. The bank has partnered with crypto exchange VALR to enable this feature, offering Bitcoin, Ethereum, Ripple, Solana, and USDT via FNB’s Share Saver, Share Builder, Share Investor, and Share Zero products.

The move aligns with a broader trend in South Africa, where banks are increasingly adding crypto services. Discovery Bank was the first to offer direct crypto trading through its app, partnering with Luno. Absa has focused on institutional clients, collaborating with Ripple for digital-asset custody. Nedbank is exploring blockchain-based solutions with Crypto.com, starting with individual clients.

Sizwe Nxedlana, CEO of FNB and RMB Private Banking and Wealth Management, emphasized that the new offering provides customers with access to curated crypto assets while leveraging the bank’s investment expertise. Trades can be made from R10, with 24/7 availability. Bheki Mkhize, CEO of FNB Wealth and Asset Management, noted the high client interest in crypto and the need for a trusted platform.

FNB has ring-fenced the crypto offering within its ecosystem, ensuring tighter control over security, compliance, and exchange regulations. While the initial rollout includes only five cryptocurrencies, the bank plans to expand its crypto offerings and educational content over time. Mkhize cautioned customers about the risks associated with crypto investments, emphasizing the importance of understanding volatility and managing trading activities.