FNB takes crypto investing mainstream

FNB has introduced crypto investing through its banking platform, allowing customers to invest in the asset class via the bank’s established share trading products. 

The offering is in partnership with VALR and comes as demand for investment in crypto assets continues to grow. 

“FNB customers will now have access and exposure to crypto assets, with the ability to trade a set of curated coins,” FNB and RMB Private Banking CEO Sizwe Nxedlana said. 

FNB’s offering will extend to digital currencies such as Bitcoin, Ethereum, Ripple, and Solana, as well as the USDT stablecoin, which is pegged to the US dollar. 

Nxedlana explained that crypto investors will continue to benefit from the bank’s investment expertise and capabilities. 

FNB customers will be able to trade digital currencies with a minimum trading value of R10. The service will be available 24/7 and is not restricted to traditional financial market operating hours. 

Crypto investing will be available to all clients who use FNB’s existing share-trading products, including Share Saver, Share Builder, Share Investor, and Share Zero. 

Clients will be able to invest using funds in their FNB accounts. To comply with applicable regulations and ensure security, crypto assets cannot be transferred outside the FNB ecosystem. 

This offering from FNB comes on the back of rising client demand for access to crypto assets and the growing role of blockchain-based technologies at the bank. 

“We have observed a lot of activity and interest from our clients around crypto. Clients want a trusted platform like FNB to access alternative assets to help diversify,” FNB Wealth and Asset Management Bheki Mkhize said. 

Mkhize explained that blockchain-based technologies are making significant inroads into the traditional financial landscape. 

What was once dismissed as a niche technology primarily associated with illicit activity is now a cornerstone of modern finance. 

Changes have been driven not only by clients but also by the growing acceptance of crypto investing by traditional financial institutions. 

Regulators are now issuing more licences to financial institutions, legitimising the sector, and global asset managers such as BlackRock are increasingly offering crypto assets to the public. 

Governments are also implementing clearer tax laws and regulatory frameworks, giving traditional institutions greater confidence to expand into the sector. 

The value of investing in crypto is largely tied to its potential for higher risk-adjusted returns and its role in an evolving technological landscape. 

However, these opportunities carry risks that require careful consideration, and FNB supports clients through learning modules to help them better understand the market.