FNB and VALR launch crypto trading: What you need to know about the new service
FNB has launched crypto trading through a partnership with VALR, giving customers access to five digital assets from R10. Here’s what you need to know about the new service and its limits.
FNB and VALR have launched a new crypto trading service, allowing FNB customers to buy and sell selected cryptocurrencies through the bank’s existing investment platform. The partnership offers access to five digital assets: Bitcoin, Ethereum, XRP, Solana, and USDT, a stablecoin tied to the US dollar. The service is available through FNB’s Share Saver, Share Builder, Share Investor, and Share Zero products, with investments starting at R10.
Trading is available 24/7, seven days a week. FNB’s CEO, Sizwe Nxedlana, said the offering allows customers to gain exposure to crypto assets while benefiting from the bank’s investment capabilities. However, the service differs from conventional cryptocurrency exchanges in that the digital assets are ring-fenced within the FNB ecosystem, cannot be transferred to external wallets, and are subject to FNB’s control over security, compliance, and exchange-control requirements.
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