Crypto exchange Luno adds tokenised stock trading in Nigeria
- Luno launches tokenised stock trading in Nigeria, enabling investment in over 60 companies and ETFs directly in naira.
- The financial inclusion rate in Nigeria is 74%, but less than 5% of adults invest in the capital market.
- Luno's tokenised stocks are backed 1:1 by actual shares held in custody with regulated partners.
The launch of tokenised stock trading by Luno is a significant step towards enhancing financial inclusion in Nigeria, potentially attracting a new wave of retail investors. However, the challenges faced by the MVNO sector highlight the need for better support and talent development in the telecom industry. The strategic move by Telecom Egypt to sell a stake in its data hub could pave the way for improved digital infrastructure, which is crucial for the country's fintech growth.
