Luno has rolled out crypto staking in Nigeria, making it the first crypto platform operating locally to offer the feature.
Users can now earn up to 18% annually in passive income on select proof-of-stake assets directly through the Luno app.
Why it matters
Nigerian crypto users have long relied on offshore platforms to access staking services — often facing regulatory uncertainty, hidden fees, or lock-up conditions.
Luno’s move provides a compliance-led, accessible alternative that lowers barriers for local participation in decentralized finance.
Details
- Supported assets: Cosmos (ATOM), Solana (SOL), Polkadot (DOT), NEAR Protocol (NEAR)
- No minimum amount, lock-up period, or hidden fees
- Rewards paid out regularly
- Fees waived for the first three months
Between the lines
With over 21 million crypto users in Nigeria, passive income opportunities have become a key driver of interest amid market volatility. Luno’s staking launch aligns with a growing demand for sustainable, utility-driven crypto products.
What they’re saying
“We’ve evolved beyond the era of speculation… People are seeking informed, safe, and rewarding alternatives,” said Ayotunde Alabi, CEO of Luno Nigeria.
“Staking represents a new phase of crypto adoption rooted in sustainability and utility.”
By the numbers
- In South Africa, over 150,000 Luno users have opened staking wallets
- More than R1.5 billion (~$83M) worth of crypto assets staked since launch
The big picture
The expansion builds on Luno’s previous launches in South Africa and Malaysia, signaling the platform’s broader strategy to scale regulated staking products across emerging markets.
