Luno has just set a new benchmark by becoming the first exchange in Nigeria to launch crypto staking, a tool that allows users to earn passive income by holding certain digital currencies.
This was announced by Ayotunde Alabi, Chief Executive Officer of Luno Nigeria. According to him, instead of buying and selling for short-term gains, users can now stake tokens like Solana, Polkadot, Cosmos, and NEAR Protocol to receive rewards.
These rewards can go as high as 18% per annum, a figure that dwarfs most savings account rates in Nigeria’s traditional financial institutions.
“It has become evident that Nigerians are seeking alternatives to trading solutions that are safe, rewarding, and aligned with long-term financial goals,” said Alabi. “Crypto staking meets that need and offers a simple, secure, and compliant way to earn passive income.”
What This Means
Luno’s implementation is particularly notable for its user-friendly approach: no lock-up periods, no minimum staking requirements, and full control over when assets can be unstaked.
According to experts, the crypto staking contrasts sharply with other platforms, many of which impose rigid terms or fail to disclose risks transparently.
By integrating crypto staking within its Nigerian app and infrastructure, Luno also offers users a local platform with credible oversight.
“Unlike offshore platforms, our staking feature is built within a licensed, transparent, and local framework,” Alabi added. “We are committed to responsible innovation and to expanding access to financial tools that benefit the everyday user.”
Why Crypto Skating Matters
According to industry leaders, the timing of the new crypto staking launch by Luno reflects an acute understanding of market momentum.
The launch also aligns with a shift in Nigeria’s regulatory climate, as Securities and Exchange Commission (SEC) and Central Bank have gradually softened their stance toward crypto, moving from restriction to supervision.
According to analysts, Luno now stands at the intersection of innovation and safety, a position that could influence how other players engage with Nigeria’s evolving crypto landscape.
Crypto Market Opens New Chapter
Nigeria is a global heavyweight in cryptocurrency adoption. Between mid-2023 and 2024, Nigerians processed approximately $59 billion in crypto transaction volume, representing a 9% year-over-year growth despite a global downturn.
Sub‑Saharan Africa saw around $377 million in regional revenue during 2024, with forecasts projecting it to surpass $730 million by 2030. According to experts, these numbers underscore the scale of local demand.
With staking now integrated into its framework, Industry leaders say Lumo stands out by promoting digital wealth creation through steady yields rather than volatile bets.
When it comes to competitions, Nigeria’s ecosystem includes platforms such as Binance, Paxful, Quidax, and Bundle Africa, all of which facilitate trading, remittance, and asset management.
However, experts say none currently offers locally regulated crypto staking under Nigerian licensing, which gives Luno a significant first-mover advantage in flexible, compliant staking services.
Talking Points
At Techparley, we recognize Luno’s launch of Nigeria’s first crypto staking service as a pivotal moment in the country’s digital finance evolution, offering Nigerians access to crypto-based passive income options.
By offering flexible terms – no lock-up periods or minimums, Luno is addressing key concerns around accessibility and trust that have previously hindered adoption.
Luno’s entry into staking could pressure competitors like Binance, Quidax, and Bundle Africa to follow suit or risk falling behind in the race to offer more utility-driven crypto products.
Luno’s approach could serve as a model for future innovation that aligns with local laws and user safety. This launch isn’t just a technical upgrade, it signals a broader evolution of Nigeria’s crypto economy into a maturing, yield-generating ecosystem.
