FNB Opens In-App Bitcoin Trading to 9 Million Retail Clients in South Africa

South Africa’s second-largest bank, FNB, launched “Crypto Investing” to allow nearly 9 million retail clients to trade digital assets directly within its native banking app. The service currently supports Bitcoin, Ethereum, XRP, Solana, and USDT, featuring an ultra-low entry barrier with trades starting at a minimum of R10 (approximately $0.60). FNB enforces a strict closed ecosystem, preventing clients from transferring coins out to external wallets or third-party exchanges due to domestic exchange-control regulations and security risk management. The trading infrastructure was built in partnership with local crypto exchange VALR, offering the exchange a massive distribution pipeline without traditional customer acquisition costs. More than 6 million South Africans were estimated to hold crypto assets as of late 2025, with over R25 billion reported under custody at major regional platforms.