Discovery Bank is preparing to introduce a new digital trading feature that will allow customers to buy and sell crypto assets directly through its mobile banking platform. The offering is scheduled to go live in December and is structured through a partnership with Luno, a well established crypto trading firm with operational experience in markets undergoing financial digitization. The integration signals a meaningful step for regulated institutions in Africa as stablecoins and crypto assets continue to blend with traditional banking channels. Discovery Bank’s decision reflects growing local participation, as a significant share of South Africans are already active in crypto markets. This movement is emerging alongside a broader trend in the region where users are looking for regulated access points that align with the rapid modernization of financial infrastructure. The bank’s expansion follows a period of financial improvement, including the delivery of its first profit during the second half of the previous fiscal year. The timing of the update suggests that institutions are accelerating their adoption of on chain asset tools as regulatory clarity improves.
The new feature allows customers to link their current Luno accounts with the Discovery digital banking environment in order to buy, hold or sell crypto assets such as bitcoin and ethereum. By combining a traditional bank interface with the simplified execution mechanisms of a crypto trading platform, Discovery Bank is attempting to reduce friction for clients who have historically needed separate applications to manage digital assets. South Africa’s Financial Sector Conduct Authority has played a central role in shaping the environment for these integrations. The agency began formally licensing crypto service providers in 2023 and continues to caution users about volatility risks while promoting structured oversight for market participants. Discovery Bank has stated that its framework for the integration is fully aligned with local regulations and designed to incorporate multiple layers of safeguards. These include customer protection measures and systems intended to prevent operational disruptions. The availability of these tools through a banking app is expected to draw interest from users seeking regulated access and reduced exposure to unverified market channels.
The development arrives during a period when several major banks in the region continue to assess how digital assets fit within broader financial strategies. Institutions such as Absa Bank, First National Bank, Standard Bank, Capitec Bank and Old Mutual Bank have observed rising engagement but remain cautious about launching similar products until they have more clarity about long term demand and operational risk. Discovery Bank’s decision may serve as an early indicator of how traditional financial institutions might integrate tokenized asset access within regulated environments. The broader implication for markets is that crypto trading and stablecoin infrastructure are moving from isolated platforms into the core layers of consumer banking systems. As regulated financial entities adopt these capabilities, on chain liquidity and market transparency are expected to improve. For Stable 100 readers focused on institutional analytics, the development highlights how banks in emerging markets are becoming active participants in hybrid financial models that combine regulated structures with digital asset functionality.
