Luno Nigeria, the local entity of the global cryptocurrency platform founded in Africa in 2013, has received approval in principle from Nigeria’s Securities and Exchange Commission (SEC) through admission into the Commission’s Accelerated Regulatory Incubation Programme (ARIP), becoming the first global cryptocurrency exchange to achieve this milestone.
The approval represents a significant step in Luno Nigeria’s regulatory journey, following an extensive engagement process with the SEC, and reflects the company’s commitment to building within Nigeria’s evolving digital asset regulatory framework.
Admission into ARIP means Luno has satisfied the SEC’s requirements to participate in the programme and is authorised to operate within its defined scope, subject to the Commission’s ongoing compliance obligations and regulatory conditions.
Luno has operated in Nigeria since 2015 and was one of the first cryptocurrency exchanges to serve the market. The company has since built a strong local presence, combining global expertise with deep local market experience, and continues to view Nigeria as one of its most important markets globally.
As Luno continues to expand its operations across B2B operations, engaging banks, fintechs, payment providers, asset managers and corporate institutions exploring digital asset solutions, regulatory clarity is increasingly becoming a prerequisite. Admission into ARIP strengthens Luno’s ability to engage these organisations as demand grows for compliant digital asset infrastructure, including stablecoin applications, treasury solutions, crypto-as-a-service offerings and secure access to digital assets.
ARIP is an innovative regulatory environment designed to fast-track the onboarding of digital asset and other investment service providers (like Virtual Asset Service Providers and tokenised product platforms) through a controlled regulatory sandbox. It allows the Commission to assess novel business models and technologies in a controlled regulatory environment to ensure that appropriate safeguards are in place to protect investors and preserve market integrity.
Building on the initial licensing rollout in 2024, Luno’s inclusion in the programme’s second batch reflects Nigeria’s commitment to creating a structured, transparent environment for the sector to grow. The development strengthens trust among customers, institutional partners, regulators, and the wider market.
