Cryptocurrency platform founded in Africa, Luno, has launched crypto staking in Nigeria, becoming the first operational crypto platform in the country to offer this feature.
According to a statement, the move opens up a new frontier in passive income for Nigerian users, who can now earn up to 18 per cent annually on select digital assets, directly within the Luno app.
The feature debuts with four leading proof-of-stake assets: Cosmos (ATOM), Solana (SOL), Polkadot (DOT) and NEAR Protocol (NEAR).
With these, users can begin earning rewards by simply holding their assets, without trading or taking on additional exposure. Rewards are paid out regularly, and staked assets remain accessible at all times, with no minimum amounts required and no fixed lock-up periods or hidden fees.
Luno noted that as demand grows for more stable, passive income options in the Nigerian crypto space, users have typically faced limited, often risky choices – relying on offshore platforms.
So with Luno’s introduction of a high-yield staking option, it seeks to respond directly to this gap by offering a first-of-its-kind, locally available, and compliance-led solution.
Too woo users, for the first three months, significant platform fees will be waived, increasing the rewards customers receive.
Speaking about the launch, Mr Ayotunde Alabi, CEO of Luno Nigeria said, “It has become evident over time that Nigerians are increasingly looking beyond trading to build long-term value with digital assets.
“We’ve evolved beyond the era of speculation and hoping a reward is earned. People are seeking informed, safe, and equally rewarding alternatives, and staking offers that path. It represents a new phase of crypto adoption, one rooted in sustainability and utility.
“Our aim is to support this shift with tools that are easy to use, transparent, and aligned with real financial goals, all while maintaining our high standards of safety and compliance as a licensed operator.”
The launch in Nigeria follows Luno’s earlier rollouts in South Africa and Malaysia, where it has seen strong adoption. In South Africa alone, over 150,000 customers have opened staking wallets, with more than R1.5 billion worth of crypto assets staked via the platform, further signalling the growing appetite for passive crypto products in regulated environments.
Luno added that the exchange’s model is designed to lower barriers for participation while maintaining full transparency.
“Customers retain full control over their assets, can unstake at any time, and begin earning with as little or as much crypto as they choose,” it said in a statement announcing the development on Wednesday.
This latest addition reinforces Luno’s commitment to expanding secure and practical financial tools for everyday users across Africa, while continuing to lead the way in responsible innovation within the crypto industry.