FNB Opens Bitcoin Trading to 9 Million Clients

First National Bank (FNB), South Africa’s second-largest bank, has launched a new feature called Crypto Investing, allowing nearly 9 million retail clients to trade Bitcoin and other digital assets directly through its banking app. The service, announced on October 6, 2026, was developed in partnership with VALR, a local crypto exchange. Clients can now buy, sell, and trade digital assets without leaving the bank’s existing share-trading platform.

The initial offering includes five assets: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and the USDT stablecoin from Tether. The minimum trade amount is set at R10, approximately $0.60, making it accessible to a broad range of customers. Trading operates 24/7, matching the crypto market’s round-the-clock nature, and clients can fund purchases directly from their FNB accounts.

However, there is a key restriction: any crypto bought through FNB must remain within the bank’s ecosystem. Clients cannot transfer their coins to external wallets or other exchanges. FNB cites compliance with South African exchange-control regulations and security concerns as reasons for this limitation. The bank aims to provide a trusted gateway to crypto markets while managing associated risks.

FNB is not the first South African bank to embrace crypto. Discovery Bank previously partnered with crypto exchange Luno in November 2025. The move reflects growing demand, with over 6 million South Africans estimated to hold crypto assets as of late 2025. FNB plans to expand the list of supported assets and provide educational resources to help clients navigate digital currencies.