Luno Nigeria becomes first global crypto exchange admitted into SEC’s Accelerated Regulatory Incubation Programme

Luno Nigeria has become the first cryptocurrency exchange with a global footprint to receive Approval in Principle from Nigeria’s Securities and Exchange Commission (SEC) through admission into the Commission’s Accelerated Regulatory Incubation Programme (ARIP).

The approval marks a significant milestone in the company’s regulatory journey following extensive engagement with the SEC and underscores its commitment to operating within Nigeria’s evolving digital asset regulatory framework.

Admission into ARIP means Luno Nigeria has met the SEC’s requirements to participate in the programme and is authorised to operate within its defined scope, subject to the Commission’s ongoing compliance obligations and regulatory conditions.

Founded in Africa in 2013, Luno entered the Nigerian market in 2015 and was among the first cryptocurrency exchanges to offer services in the country. The company says it has since established a strong local presence by combining global expertise with in-depth knowledge of the Nigerian market, which it considers one of its most important globally.

Commenting on the approval, Luno Nigeria Chief Executive Officer, Ayotunde Alabi, said: “This is an important milestone for Luno Nigeria and a strong validation of our commitment to building responsibly in one of Africa's most important cryptocurrency markets. Admission into ARIP gives us a clearer regulatory pathway, strengthens trust with customers and partners, and provides a stronger foundation for the next phase of our growth, particularly as we expand our focus on institutional and B2B opportunities. We are grateful to the SEC for its continued engagement and to everyone across Luno whose hard work, resilience, and commitment helped us get to this point.”

The regulatory approval comes as Luno expands its business-to-business operations, working with banks, fintech companies, payment providers, asset managers and corporate organisations exploring digital asset solutions.

The company said regulatory certainty is becoming increasingly important as institutional demand grows for compliant digital asset infrastructure, including stablecoin applications, treasury management solutions, crypto-as-a-service offerings and secure access to digital assets. Admission into ARIP is expected to strengthen Luno’s ability to support these organisations within an approved regulatory framework.

ARIP is a regulatory sandbox established by the SEC to accelerate the onboarding of digital asset and other investment service providers, including Virtual Asset Service Providers and tokenised product platforms. The programme enables the Commission to evaluate emerging business models and technologies in a controlled environment while ensuring appropriate safeguards are in place to protect investors and maintain market integrity.

Following the initial licensing rollout in 2024, Luno’s admission into the second batch of the programme highlights Nigeria’s continued efforts to develop a structured and transparent regulatory framework for the digital assets industry. The development is also expected to strengthen confidence among customers, institutional partners, regulators and the broader financial ecosystem.