Luno Launches Tokenised Stock Trading in Nigeria, Democratizing Investment
Luno, a cryptocurrency exchange with strong African roots, is making waves in Nigeria’s financial landscape by introducing tokenised stock trading. This innovative move allows Nigerians to invest in global stocks and Exchange Traded Funds (ETFs) directly using their local currency, the naira. This simplifies access to international markets, potentially opening up investment opportunities for a wider audience.
Breaking Down Barriers to Investment
The launch of tokenised stocks by Luno addresses significant hurdles that have historically limited Nigerian participation in global markets. Traditional investment methods often require offshore accounts, dealing with foreign exchange complexities, and navigating potentially high entry costs. Luno’s platform eliminates these barriers. Users can now purchase shares in over 60 companies and ETFs without the usual constraints, such as waiting for Wall Street trading hours. This is especially significant given Nigeria’s financial inclusion rate, which has reached 74%, yet only a small percentage of adults actively participate in the capital market. Luno’s tokenised approach promises to simplify onboarding processes and lower the financial threshold for entry, making global investment accessible to more Nigerians.
Keywords
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