Home / Business and Economy / Discovery Bank Brings Crypto Trading to South African Customers
Discovery Bank Brings Crypto Trading to South African Customers
16 Nov
Summary
- Discovery Bank partners with Luno to enable crypto trading on its app
- Nigerian crypto exchange Obiex reports profitability and $800M in swap volumes
- GFX brokers in Ghana team up with Libeara to tokenize government bonds
As of November 16th, 2025, the African crypto landscape is seeing some significant developments. In South Africa, Discovery Bank has announced a partnership with cryptocurrency exchange Luno, allowing the bank's customers to trade crypto directly through their mobile banking app. This move by Discovery Bank, the first major lender in the country to enable such functionality, aims to make cryptocurrencies more accessible to the mainstream.
In Nigeria, the crypto exchange startup Obiex has reportedly achieved profitability after a period of bootstrapping and restructuring its focus. The exchange claims to have processed over $800 million in swap volumes in 2025 and has been "profitable from day one." This milestone highlights Obiex's ability to navigate the evolving regulatory landscape in Nigeria and establish itself as a reliable player in the market.
Across the border in Ghana, the brokerage firm GFX is partnering with the Singaporean tokenization platform Libeara to enable the tokenization of government bonds. This collaboration aims to bring government-issued financial instruments and investments onto the blockchain, potentially improving transparency and accessibility for investors.
These developments showcase the continued growth and maturation of the African crypto ecosystem, with established financial institutions, startups, and international collaborations driving innovation and adoption in the region.
