FNB clients can now buy and trade selected cryptocurrencies through the bank's existing investment platform. The financial group is expanding its presence in the fast-growing digital asset market.
The bank has partnered with the South African cryptocurrency exchange VALR, providing clients access to five digital assets: Bitcoin, Ethereum, XRP, Solana, and USDT, which is a stablecoin pegged to the US dollar.
This service is available through FNB Share Saver, Share Builder, Share Investor, and Share Zero products, with a minimum investment amount of R10. Trading is available 24 hours a day, seven days a week.
FNB explained that this solution was driven by growing client interest in alternative investments and is part of the bank's efforts to provide clients with access to a wider range of asset classes through its existing investment infrastructure.
Sizwe Nksedlana, CEO of FNB and RMB Private Banking and Wealth Management, noted that this offering will allow clients to access crypto assets while utilizing FNB's existing investment capabilities.
Bheki Mkhize, CEO of FNB Wealth and Asset Management, stated that the bank has observed increased client interest in cryptocurrencies. He added that the service will provide investors with access to alternative assets within a diversified portfolio because 'clients need a reliable platform, which FNB provides.'
However, FNB's crypto offering has a significant difference from using a traditional cryptocurrency exchange. The service is fully isolated within the FNB ecosystem. Clients fund their cryptocurrency purchases from their FNB accounts, but the digital assets cannot be transferred to an external crypto wallet or moved on or off the platform.
FNB stated that this structure gives the bank greater control over security, compliance, and currency control issues, while allowing clients to buy, sell, and hold selected assets within their current investment environment.
The bank also intends to increase the number of available cryptocurrencies on the platform and provide educational materials to help clients understand digital assets and associated investment risks.
It is important to note that crypto assets can be extremely volatile, and prices can change sharply in short periods. Unlike traditional investments such as stocks or bonds, cryptocurrencies do not represent ownership shares in an underlying company or a standard debt obligation.
FNB's move comes as South African banks increasingly move away from distancing themselves from crypto services and begin integrating digital assets into their investment offerings. Discovery Bank became the first South African bank to offer cryptocurrency trading directly through its banking app, in partnership with Luno at the end of 2025. Its service allows clients to access over 50 crypto assets through the Luno platform, with the crypto portfolio integrated into the banking app.
Thus, FNB's partnership with VALR adds another major bank-supported channel to the crypto asset market, although the more limited selection of assets and restrictions on external cryptocurrency transfer differentiate this offering from a standard exchange account.