Luno, the Africa-based cryptocurrency exchange, has expanded its tokenised stock offering to Nigeria, giving users access to over 60 global stocks and ETFs, including Apple, Tesla, Nvidia, Microsoft, and the S&P 500- starting September 8. Nigerian investors can purchase fractional shares using local currency, eliminating the need for offshore accounts, with investments starting as low as ₦100 (approximately $0.07).
This launch comes shortly after Luno’s successful rollout in South Africa in August, where over 10,000 users invested in tokenised stocks within the first month. That early success showed strong demand for low-cost access to global equities in African markets, laying the groundwork for the Nigerian expansion.
The service runs on Kraken’s xStocks and Backed Finance, which provide custody and ensure full regulatory oversight of the actual shares backing the tokenised versions. While tokenized stocks mirror real equity prices, they do not grant shareholders rights such as voting or dividends. However, they offer key advantages such as 24/5 trading, fractional ownership, instant settlement, and lower entry barriers for retail investors.By making global stocks affordable and simple to trade, we’re opening doors to wealth-building opportunities that were previously out of reach for many,
Ayotunde Alabi, CEO of Luno Nigeria, said the goal is to break down the hurdles Nigerians face in accessing global markets. “” he explained.
In a country where financial inclusion stands at around 74%, but formal participation in capital markets remains under 5%, this offering could radically shift investor behavior. Analysts note that if adoption in Nigeria follows South Africa’s pattern, tokenised equities could become a major pathway for democratizing global investing across Africa. Luno hopes to tap that momentum and expand further into markets like Kenya and Ghana, bringing digital assets exposure to even more users continent-wide.
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