After attracting over 10,000 users in South Africa within a month of launch, UK-based crypto firm Luno has brought its tokenised stocks feature to Nigeria. The product, which launched yesterday, allows Nigerians to invest in the shares of companies like Nvidia, Apple, and Microsoft for as little as $0.07.
The product works by converting real equities into digital tokens that trade on the blockchain. Instead of buying a full Apple share, investors can own a fraction without the usual hurdles of currency conversion or high brokerage fees.
Luno has proven the demand in South Africa. Within weeks of launch, tokenised stocks became one of its fastest-adopted products despite competition from platforms like VALR, Binance, and AltcoinTrader.
Nigeria presents a different challenge. Nigeria is still one of the biggest crypto markets in the world. Although the country’s crypto sector is booming, it is tightly monitored. Luno will have to contend with rivals like Bamboo, Trove, and Chaka while navigating the Securities and Exchange Commission (SEC)’s tightening rules on digital investments.
What does Luno get from this? While Luno is awaiting a provisional crypto licence from the SEC, this move means the company is evolving into a one-stop digital wealth app, where users can manage crypto and ETFs in one place. By bundling these asset classes under a single platform, Luno is betting on becoming Africa’s gateway to global wealth.