UK-based crypto firm Luno has introduced tokenised US stocks to its Nigerian users, just one month after rolling out the product in South Africa, where it has already attracted 10,000 users. The move signals Luno’s intent to deepen its presence in Africa’s investment space through tokenisation technology.
Starting September 8, Nigerian users can invest in 60 tokenised US stocks and ETFs on the Luno app with as little as ₦100 ($0.07). This is made possible through a partnership with xStocks by Kraken, the tokenisation arm of the global crypto giant, and Backed Finance, a US-based issuer of tokenised real-world assets (RWAs).
Tokenised US stocks are digital representations of actual equities such as Nvidia, Apple, and Microsoft, backed 1:1 by shares held in regulated custodial reserves. While they track the performance of the underlying securities, investors do not receive shareholder rights like voting or dividends, as the tokens operate outside of traditional capital market protections.
The introduction of tokenised equities comes at a time when wealthtech apps in Nigeria, including Bamboo, Chaka, Rise, and Trove have already popularised fractional investing in US stocks. Luno, however, is betting that crypto infrastructure can offer a more cost-efficient and flexible way to access global assets, particularly for retail investors.
With tokenisation, users can trade in smaller denominations, access markets 24/7, and benefit from instant liquidity, a significant departure from the restrictions of traditional brokerages.
Luno has been steadily broadening its product suite in Nigeria. In July 2025, the company launched its staking feature, enabling users to earn yields by holding cryptocurrencies on its platform. The addition of tokenised equities reflects Luno’s strategy to drive the adoption of tokenised assets across Africa, aligning with global trends in digital finance.
Ayotunde Alabi, CEO of Luno Nigeria, framed the launch as a response to local demand:
“Nigerians have shown that when an innovation makes financial life easier and safer, they will overcome initial scepticism and adopt it. Tokenised stocks address a real need by letting people invest in top global companies easily, something previously out of reach due to high costs and complex procedures. If we demonstrate that this product is safe and valuable, Nigerians will use it.”
Across Africa, tokenisation is gaining traction as investors and regulators explore its potential to democratise access to global markets. For Luno, which operates in four African countries, Nigeria is a critical frontier given its young, tech-savvy population and robust appetite for alternative investments.
By merging crypto rails with traditional equities, Luno is positioning itself at the intersection of fintech and digital assets, betting that tokenisation could reshape how Africans invest in the world’s biggest companies.
Affordability is another part of Luno’s pitch. Competing wealthtech apps charge a $1 minimum fee for trades, with commissions reaching up to 1.5% for higher-value transactions. By contrast, Luno applies a flat 2% fee per tokenised trade, without monthly or management fees.
“Our tokenised stock offering has several compelling advantages,” Alabi said. “With tokenised stocks, investors aren’t limited to US market hours they can trade 24/7, with instant settlement on the blockchain. Customers also have the option to withdraw their stock tokens to a private wallet, something traditional platforms don’t offer. This portability and transparency give users more control, alongside lower and more straightforward fees.”
For Nigerian investors, Luno’s entry adds another option in the fast-growing space of fractional investing. For regulators and institutions, however, it raises new questions about oversight, investor protections, and the role of tokenisation in the broader financial system.
If Luno succeeds in balancing compliance with innovation and can prove its model both cheaper and more flexible. Nigeria could become one of the most important test cases for tokenised equities in Africa.
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