First National Bank Adds Crypto Trading as Demand Grows in South Africa

Highlights:

• First National Bank has added crypto trading to its investment platform as demand grows in South Africa.
• Customers can now trade Bitcoin, Ethereum, XRP, Solana and Tether alongside traditional investments through FNB.
• FNB plans to expand its crypto offering and provide more education on digital asset risks.

First National Bank (FNB) has added cryptocurrency trading to its investment platform as demand for digital assets grows in South Africa. Customers can now access several major cryptocurrencies through FNB’s existing share trading service. Business Day reported the development on October 6, noting that growing customer demand was a key reason behind the launch. FNB said the new service gives clients another investment option alongside shares and other traditional assets.

South Africa’s Second-Largest Bank FNB Launches Crypto Trading With VALR

First National Bank (FNB), part of South Africa’s second-largest banking group by assets, has launched a crypto investing service allowing customers to trade BTC, ETH, XRP, SOL and USDT through its existing… pic.twitter.com/RDuRZlQ3CB

— Wu Blockchain (@WuBlockchain) October 7, 2026

FNB Adds Bitcoin, Ethereum, XRP and Solana

FNB customers can now buy, sell and hold selected cryptocurrencies through the bank’s platform. The first group includes Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL) and Tether (USDT). USDT is different from cryptocurrencies such as Bitcoin because it is a stablecoin. Its value is designed to stay close to the U.S. dollar.

Sizwe Nxedlana, CEO of FNB and RMB Private Banking and Wealth Management, said customers had been asking for more investment choices. “We have listened to client requests for us to provide them with alternative investment solutions,” Nxedlana said.

The bank is therefore bringing crypto into a platform that many of its customers already use. Instead of opening a separate account with another service, eligible users can manage crypto alongside other investments. However, FNB also warned customers about crypto market risks. Digital asset prices can rise or fall quickly. Investors can therefore face large gains or losses within a short period.

Crypto Demand Continues to Rise in South Africa

FNB’s move comes as crypto adoption continues to grow across South Africa. Business Day reported that crypto assets held by major local platforms had reached more than R25 billion by late 2025. The report also said more than six million South Africans owned some form of cryptocurrency. Growing interest has pushed banks and other financial companies to pay closer attention to the sector.

Meanwhile, FNB already offers customers access to South African shares, exchange-traded funds and international markets through its investment products. Crypto now becomes another asset class available through the platform. The launch could also make crypto investing easier for people who already use FNB services. However, easier access does not remove the risks linked to digital assets. Investors still need to understand the assets they buy and how much risk they can accept.

First National Bank Plans to Expand Its Crypto Services

FNB does not plan to stop with the current selection of cryptocurrencies. Bheki Mkhize, CEO of FNB Wealth and Asset Management, said the bank plans to expand its offering over time. The bank also wants to provide more educational material for customers interested in digital assets. That could help new investors understand crypto markets before making investment decisions.

FNB’s entry also increases competition among South African banks moving into the crypto sector. Discovery Bank has also explored crypto-related services as interest in Bitcoin and other digital assets grows. Now, FNB is focusing on giving customers access to major cryptocurrencies through a familiar investment platform.