Introduction
FNB has added crypto trading to its banking platform. Customers can now buy and sell a limited selection of cryptocurrencies through the bank’s existing share trading service.
The bank announced the launch on 6 October 2026, ITWeb reports. FNB has partnered with crypto exchange VALR to provide the service. FNB crypto trading adds the bank to a growing group of South African lenders offering crypto services, a market banks in the country previously avoided.
How FNB Crypto Trading Works
Customers can trade five assets: Bitcoin, Ethereum, Ripple, Solana and USDT, a stablecoin pegged to the US dollar. These are available through four FNB products: Share Saver, Share Builder, Share Investor and Share Zero.
Trades start at R10, and trading runs 24 hours a day, seven days a week.
FNB says the offering is ring-fenced within its own ecosystem. Customers fund trades from their FNB accounts, and crypto assets cannot be transferred into or out of the platform. According to the bank, this structure gives it tighter control over security, compliance and exchange control requirements.
Customer Demand Behind the Launch
FNB says the decision follows customer demand and changes in the investment market.
Sizwe Nxedlana, CEO of FNB and RMB Private Banking and Wealth Management, says clients asked the bank for alternative investments that open access to different asset classes. He describes crypto as one such asset class, and says the bank sees its offering as a safe and easy way for customers to gain exposure. Customers will trade a curated set of coins while drawing on the bank’s investment experience.
Bheki Mkhize, CEO of FNB Wealth and Asset Management, says the bank has seen strong client activity and interest in crypto. In his view, clients want a trusted platform and access to alternative assets to diversify their portfolios.
Mkhize also cautioned customers about the risks. He says clients need to understand what they are investing in and how volatile the assets can be, and they need tools to manage their trading.
To support this, FNB plans to provide educational material on crypto in text, video and audio formats.
South African Banks Move Into Crypto
FNB’s launch is part of a gradual shift among South African banks toward crypto services.
Discovery Bank was the first South African bank to offer crypto trading directly through its banking app. Through a partnership with exchange Luno, customers can link their Luno accounts to the Discovery Bank app to buy, sell and hold assets including Bitcoin and Ethereum.
Absa is targeting the institutional market instead. It has partnered with Ripple to provide digital-asset custody services to corporate and institutional clients, including secure storage of tokenised assets and cryptocurrencies.
Nedbank has partnered with Crypto.com to explore blockchain-based payment, settlement and liquidity solutions, including conversion between the rand and USDC. Nedbank plans a phased rollout that starts with individual clients and then extends to businesses, subject to regulatory requirements.
FNB says its crypto offering will initially be limited to the five launch assets. The bank plans to add more investment options and educational content over time. Mkhize calls the launch “just a start.”