First National Bank launches Bitcoin trading for 9 million clients

First National Bank (FNB), the retail banking division of FirstRand Group, has launched a “Crypto Investing” feature allowing nearly 9 million clients to trade digital assets directly within the banking app. Developed in partnership with the local exchange VALR, the service enables users to buy, sell, and trade five specific assets: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and the Tether (USDT) stablecoin.

To comply with South African exchange-control regulations and enhance security, FNB has implemented a “walled garden” approach. This means digital assets purchased through the platform must remain within the bank’s ecosystem; clients are currently unable to transfer coins to external wallets or other exchanges. The service integrates with existing investment products and allows for 24/7 trading with a minimum transaction amount of R10.