First National Bank launches crypto trading via VALR partnership

First National Bank (FNB) has launched a cryptocurrency trading service within its wealth management ecosystem through a partnership with the local exchange VALR. The service allows clients to trade five major digital assets—Bitcoin (BTC), Ether (ETH), XRP, Solana (SOL), and the Tether (USDT) stablecoin—directly through existing investment products such as Share Saver, Share Builder, Share Investor, and Share Zero.

Transactions can be initiated with a minimum of 10 rands and are funded directly from clients’ FNB bank accounts. The platform operates under a strictly ringfenced, closed-loop model. This means customers cannot transfer existing crypto holdings into the platform, nor can they withdraw purchased tokens to external exchanges or private self-custody wallets.

FNB stated that this restrictive architecture is intended to mitigate risk, ensure platform security, and maintain compliance with South African exchange control laws. Sizwe Nxedlana, CEO of FNB, noted the move responds to client demand for asset diversification, while Bheki Mkhize, CEO of FNB Wealth and Asset Management, emphasized a focus on investor protection and financial literacy.