FNB joins crypto race by allowing customers to buy assets for R10

FNB has become the latest South African bank to join the crypto race by partnering with crypto exchange VALR to offer its nearly nine million retail customers the opportunity to purchase a range of digital assets through the FNB share trading platform, which can be accessed via the app.

The bank announced the launch of its Crypto Investing feature, which allows customers to purchase bitcoin (BTC), ethereum (ETH), ripple (XRP), solano (SOL) and US dollar-pegged stablecoin USDT (Tether).

“FNB customers will now have access and exposure to crypto assets, with the ability to trade a set of curated coins, as well as benefiting from the bank’s investment knowledge and experience,” says Sizwe Nxedlana, CEO of FNB and RMB Private Banking and Wealth Management.

Read: Crypto exchange’s plan to disrupt the payments market kicks off

Customers will be able to trade from as little as R10, around the clock.

The bank says this advances its objective to democratise investments and cater for its broad client base.

Bheki Mkhize, CEO of FNB Wealth and Asset Management, says the bank’s move into crypto was motivated by growing interest from clients.

“Clients require a trusted platform, which FNB provides, this gives them access to alternative assets to help diversify their investments.”

FNB clients will have access to crypto assets across the bank’s existing share trading products – Share Saver, Share Builder, Share Investor, and Share Zero.

Other banks join the race

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FNB is the latest to announce its entry to the crypto space, following Discovery Bank’s partnership with Luno, which introduced crypto trading through the Discovery banking app in December 2025.

That integration allows customers to link their Luno accounts and buy, hold and sell crypto assets, including bitcoin and ethereum. Discovery subsequently added the ability to create a Luno account from within its banking app.

FNB’s announcement shows banks – once perceived as hostile to crypto – are now enthusiastic converts by adding crypto investing to their suite of conventional products and investments.

Read:
Discovery Bank announces crypto trading, motor insurance and new rewards partners
Bitcoin ventures into extreme fear territory – and that’s not a bad thing

Nedbank announced a partnership with Crypto.com in March 2026 to develop blockchain-based payment, settlement and liquidity solutions, subject to regulatory requirements.

The aim is to provide real-time conversion between rands and USDC, another dollar-linked stablecoin, and access to digital dollars for trade and remittances.

Absa announced a partnership with the company Ripple in October 2025 to provide institutional digital asset custody in South Africa. Its custody service focuses on safeguarding digital assets and managing the private keys used to control them – an important function for institutions that want exposure without handling the security themselves.

Standard Bank says it supports the rand-denominated ZARU stablecoin through custody of reserve funds. Its broader digital asset strategy includes tokenised deposits, stablecoins and blockchain-based settlement.

These initiatives concern how money is stored and moved, rather than an equivalent retail bitcoin trading service.

These developments show banks approaching the market from several directions: helping individuals invest, safeguarding institutional holdings and using blockchain to improve payments.

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Read:
Are SA banks about to enter the crypto market?
Absa’s bold leap into stablecoins

FNB’s entry to the crypto market follows improved regulations around the world and in SA as well as the issuing of crypto asset licences to institutions.

“This shift is partly driven by the growing recognition and involvement of major fund managers like BlackRock, the world’s largest asset manager, signalling blockchain’s maturity beyond just powering cryptocurrencies like bitcoin,” says FNB.

“Investing in cryptocurrency offers a unique set of potential benefits, but it’s crucial to understand that it also comes with risks. We want to ensure that clients understand what they are buying, investing in, the volatility and have tools to manage their trading activities,” says Mkhize.

To help clients less familiar with the benefits and risks of crypto, FNB will provide thought leadership and learning modules to help customers better understand the market.

Read:
BlackRock enters crypto space
SA’s new crypto licences are a game-changer

Crypto funds are ringfenced

Clients will be able to invest using funds in their FNB accounts. To ensure security of the platform and a more conservative approach to compliance and exchange control laws, trading is ringfenced within the FNB ecosystem. Crypto assets cannot be transferred in or out.

“This is just a start. As time goes, we will broaden our crypto offering by providing more investment options and educational content,” adds Mkhize.

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