Luno, the cryptocurrency platform with African roots, has launched a new crypto staking feature in Nigeria, offering Nigerian users an opportunity to earn passive income on their digital assets. This makes Luno the first operational crypto platform in Nigeria to provide such a service.
Nigerian users can now earn up to 18% annually on select cryptocurrencies directly through the Luno app. The initial rollout includes four prominent proof-of-stake assets: they are Cosmos (ATOM), Solana (SOL), Polkadot (DOT) and NEAR Protocol (NEAR).
With Luno’s staking feature, users can start earning rewards by simply holding their assets. There’s no need for active trading or taking on additional exposure. Key benefits include regular reward payouts, accessible assets, no minimums, no lock-up periods and no hidden fees.
For the first three months, Luno will waive significant platform fees, maximizing the rewards for customers.
Ayotunde Alabi, CEO of Luno Nigeria, highlighted that this launch addresses a growing demand among Nigerians for stable, passive income options within the crypto space. He noted that users are moving beyond speculative trading and seeking “informed, safe, and equally rewarding alternatives.”
“Staking offers that path. It represents a new phase of crypto adoption, one rooted in sustainability and utility. Luno aims to support this shift by providing easy-to-use, transparent tools that align with financial objectives, all while maintaining high standards of safety and compliance as a licensed operator,” Alabi stated.
The launch in Nigeria follows successful introductions of crypto staking in South Africa and Malaysia. In South Africa, over 150,000 customers have opened staking wallets, with more than R1.5 billion worth of crypto assets staked on the platform, demonstrating a strong appetite for passive crypto products in regulated environments.
Luno’s staking model is designed to be accessible and transparent, ensuring customers retain full control over their assets. This initiative reinforces Luno’s dedication to expanding secure and practical financial tools for everyday users across Africa, while continuing to lead in responsible innovation within the crypto industry.