In a first for South Africa, Luno and Discovery Bank partner to bring crypto to traditional banking 

In a first for South Africa’s financial service industry, the country’s leading cryptocurrency exchange, Luno, is entering into a strategic partnership with Discovery Bank to integrate cryptocurrency directly into Discovery Bank’s mobile banking platform. 

This partnership exemplifies the growing synergy between traditional finance and digital assets, and underscores Luno’s evolution toward expanding its offerings to institutional customers, while continuing to be a platform of choice for retail customers.  

The partnership enables Discovery Bank’s more than one million South African customers to buy, hold, and sell Bitcoin, Ethereum, XRP, and more than 50 other digital assets available on Luno, directly in the Discovery banking app. 

Christo de Wit, Luno’s South African Country Manager said, “We’re truly excited about this partnership between two innovative South African brands. 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 explains: “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.” This groundbreaking partnership between Luno and Discovery Bank is Luno’s first large-scale institutional partnership, and serves as a blueprint for financial institutions to incorporate digital assets and blockchain technology into their systems.  

Both Luno and Discovery Bank operate under South African regulatory frameworks, ensuring consumer protections and compliance standards of the highest order.  

“We’ve seen growing demand from our customers for access to digital assets,” said Hylton Kallner, CEO of Discovery Bank. “Partnering with Luno allows us to offer this, 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 experience instant Luno account creation and can invest seamlessly, as well as view balances and transaction histories. 

Both organisations prioritise a sustainable approach to growth over rapid scaling. Discovery Bank, recognised globally for its behavioural banking model, brings more than a million accounts and more than ten million monthly logins to the partnership.  

De Wit added, “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. Mainstream adoption of digital assets is built on partnerships like this.” 

The partnership could eventually extend into investment products and broader ecosystem support within the Discovery Group.

*Investing in crypto assets may result in capital loss. Luno (Pty) Ltd is an authorised financial services provider (FSP No. 53314) and registered credit provider (NCRCP22123). The information should not be construed as financial advice or as a solicitation to trade. All opinions and information provided are for informational purposes only.