Luno Nigeria Enters SEC's Crypto Incubation Programme in Regulatory Milestone

Luno has operated in the Nigerian market since 2015 and was among the earliest cryptocurrency exchanges to serve local users. The company has previously reported a large Nigerian user base as part of its wider customer growth, and it continues to position Nigeria as one of its most significant markets.

A Foundation for Institutional Growth

Speaking on the approval, Luno Nigeria Chief Executive Ayotunde Alabi described the milestone as validation of the company's commitment to building responsibly in one of Africa's key cryptocurrency markets. He said admission provides a clearer regulatory pathway, strengthens trust with customers and partners, and supports the firm's next phase of growth, with a particular emphasis on institutional and business-to-business opportunities.

That B2B focus is central to the company's strategy. Luno has been expanding engagement with banks, fintechs, payment providers, asset managers and corporate institutions exploring digital asset solutions. In these segments, regulatory certainty has become close to a prerequisite for adoption. The company points to rising demand for compliant infrastructure covering stablecoin applications, treasury tools, crypto-as-a-service offerings and secure access to digital assets.

Signalling Nigeria's Regulatory Direction

The SEC's incubation approach reflects an effort to create a transparent and structured environment for the digital asset sector to develop. For market participants, the move reinforces a trend toward formalised oversight rather than ad hoc engagement, offering exchanges a defined route to operate legally while regulators assess emerging technologies. As the sector matures, such frameworks may shape the standards other African jurisdictions adopt.