Luno, the Africa-founded cryptocurrency exchange, has unveiled a new product in Nigeria that could reshape how retail investors access global markets. The company announced the launch of tokenised global stocks, enabling Nigerians to buy shares of more than 60 companies and ETFs — directly in naira, without offshore accounts, foreign exchange hassles, or dependence on Wall Street’s trading hours.
The move is significant in a country where financial inclusion has reached 74%, yet fewer than 5% of adults participate in the capital market. Persistent barriers such as forex scarcity, high entry costs, and complex onboarding processes have historically shut out everyday Nigerians from global equities. Luno’s tokenisation model promises to simplify this by making stocks available in fractional units backed 1:1 by actual shares, held through regulated partners like Kraken’s xStocks and Backed Finance.
Unlike fintech rivals such as Bamboo and Risevest, which offer dollar-denominated access to U.S. equities, or Cowrywise, which recently added Nigerian stocks, Luno’s approach is fully local and crypto-native. Users can purchase tokenised shares of companies like Apple, Tesla, and Nvidia, while managing both crypto and equities seamlessly within the Luno app.
For crypto enthusiasts, this could be a game-changer. The ability to balance volatile digital assets with traditional stocks — without leaving a single platform — introduces a new layer of portfolio diversification. Features such as instant settlement, 24/5 trading (with plans for 24/7), and fractional ownership make the product especially attractive to first-time investors.
Luno’s pilot program in South Africa offers a glimpse of its potential impact: over 10,000 users signed up within a month. If Nigeria mirrors that success, it could mark the beginning of a new wave of retail investment, bridging the divide between crypto and traditional finance in Africa.
With this move, Luno isn’t just betting on tokenised stocks — it’s betting on Nigeria’s growing appetite for accessible, tech-driven investing.
