Luno has become the first operational platform in Nigeria to offer crypto staking.
Users can now earn up to 18% annually by simply holding selected cryptocurrencies in the Luno app. They can earn this without actively trading. The staking feature initially supports Cosmos (ATOM), Solana (SOL), Polkadot (DOT), and NEAR Protocol (NEAR). All these are proof-of-stake tokens.
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What sets this apart is the flexibility it offers users as they can stake any amount. They can also withdraw at any time, and are not locked into long-term commitments. The company has also waived platform fees for the first three months to maximize returns for early adopters.
“Nigerians are looking beyond short-term trading. Staking offers a sustainable way to build value with crypto,” said Ayotunde Alabi, CEO of Luno Nigeria. “This is about helping people reach long-term financial goals while keeping things simple, safe, and transparent.”
Why This Matters
Until now, most Nigerian users interested in staking had to rely on offshore platforms, many of which come with unclear terms, hidden fees, or compliance risks. Introducing staking on a regulated and locally available platform gives users a safer and more accessible option for passive income.
This launch comes after similar rollouts in South Africa and Malaysia. In South Africa alone, Luno says over 150,000 users have opened staking wallets. These led to more than R1.5 billion worth of crypto staked. Luno also relaunched in Kenya last month, although staking isn’t available yet.
TechArena’s View
Luno’s staking rollout is especially important for users seeking stability amid global market volatility. It also reflects a broader shift across Africa toward utility-driven adoption. This is when crypto is seen as a tool for real financial growth and not just as a speculative asset.
What This Means for Africa’s Crypto Landscape
- Greater adoption of passive crypto products, especially in mobile-first markets like Nigeria
- Local innovation is finally meeting global standards in yield-bearing services
- Increased competition for other exchanges operating in Africa that haven’t yet introduced staking features
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Also Read: How OTC Crypto Trading and Stablecoins Are Supporting African Businesses Amid Dollar Shortages
