A partnership has been forged by Discovery Bank with crypto exchange Luno to incorporate crypto asset trading directly into the bank’s mobile platform.
Seamless Crypto Trading Integrated Into Banking Services
A collaboration has been established by Discovery Bank with the crypto exchange Luno to incorporate crypto asset trading into the bank’s mobile platform. This development, which is termed a response to crypto maturing into an accessible, mainstream asset class by Discovery Bank CEO Hylton Kallner, positions it as the first major South African financial services company to offer this service.
It was stated in a Mybroadband report that, starting in December $2025, Discovery Bank clients will be enabled to link their accounts to Luno to effortlessly exchange crypto assets, including Bitcoin and Ethereum. The integration is projected to yield substantial advantages focused on reducing friction and enhancing user experience.
Through the collaboration, crypto balances and transactions can be monitored by users in real-time alongside their traditional banking and investment accounts. Funds will also be instantly transferable by users between their bank accounts and Luno wallets devoid of charges. Furthermore, the partnership affords users the ability to trade in more than fifty crypto assets. Vitality Money Savings points will additionally be accrued by Discovery Bank clients based on the crypto balances held in their Luno wallets.
A Clear Signal to the Global Financial Sector
The crucial nature of the integration was emphasized by Kallner, with the extensive uptake in the country being highlighted:
“The financial world is evolving fast, and crypto assets have matured to become an accessible, mainstream asset class. Our clients—and South Africans more generally—are already engaged in this market, with 1 in 10 people holding crypto assets.”
This outlook was mirrored by James Lanigan, CEO of Luno, who termed the solution a first-of-its-kind in Africa to incorporate digital asset investments directly into a major mobile banking application.
“This partnership is a clear signal that crypto has moved from a niche to a mainstream investment choice for those looking to diversify their investment portfolio with digital assets,”
Lanigan stated.
Luno’s security framework and experience serving over fifteen million customers worldwide are utilized by the partnership, guaranteeing the novel offering adheres to local South African regulations and delivers the highest standards of safety and trust, and compliance is ensured.
Expanded Enhancements to the Digital Platform
Concurrently, apart from the Luno integration, the launch of TRUST Alert, a novel anti-fraud system utilizing real-time analysis and personal pattern data to furnish intelligent risk warnings on transactions, was also disclosed by Discovery Bank. New rewards partnerships have also been presented, including accruing up to fifty percent back in Discovery Miles on DStv subscriptions.
The action definitively positions Discovery Bank at the vanguard of amalgamating traditional financial services with digital assets in the region, and its standing is confirmed.
