In a first for South Africa’s financial services sector, cryptocurrency exchange Luno has formed a strategic partnership with Discovery Bank to integrate cryptocurrency into the bank’s mobile app.

The collaboration allows Discovery Bank’s more than one million customers to buy, hold, and sell Bitcoin, Ethereum, XRP, and over 50 other digital assets available on Luno, directly within the banking app.

Christo de Wit, Luno’s South African Country Manager, said,

“By integrating digital assets into the Discovery banking app, we’re advancing our mission to upgrade the world to a better financial system. We’re proud to be powering this first-of-its-kind solution in Africa for one of South Africa’s iconic institutions.”

De Wit added,

“By integrating digital assets into Discovery Bank’s platform, we’re not just making cryptocurrencies more accessible to everyday users, but we’re proving that blockchain technology and digital assets are strategic long-term tools for financial institutions.”

Hylton Kallner, CEO of Discovery Bank, said,

“Partnering with Luno allows us to offer access to digital assets, aligning with our commitment to customer protection, financial education and responsible innovation. We are empowering our customers with choice while maintaining their trust.”

Users will be able to create Luno accounts instantly, invest seamlessly, and view balances and transaction histories. Both organisations operate under South African regulatory frameworks.

De Wit noted,

“When a trusted and innovative institution like Discovery Bank integrates digital assets into its core banking experience, it signals that digital assets are maturing, moving from niche to mainstream. Responsible, regulated adoption is the future.”

The partnership may later expand to include investment products and broader ecosystem support within the Discovery Group.

Featured image credit: Edited by Fintech News Middle East, based on image by Frolopiaton Palm via Freepik