Luno pivots to B2B crypto infrastructure, eyes naira stablecoin

Luno Nigeria CEO Ayotunde Alabi says the company is shifting from retail crypto exchange to selling digital asset infrastructure to banks, asset managers, fintechs, and large enterprises. This includes Crypto-as-a-Service for offering digital products without building trading or custody, a cross-border settlement network powered by GTXN payments, and stablecoin issuance via BlockTower, with plans for a naira-backed stablecoin alongside existing ones like the South African rand-backed ZARU.

This matters for Nigerian businesses because they can access crypto services, issue stablecoins, and move money across borders without building their own infrastructure, potentially cutting forex costs and settlement times. Luno already holds regulatory approvals: it is a licensed crypto-asset service provider in South Africa, recognised by Malaysia’s Securities Commission, holds a Bermuda Class F licence, and operates in Nigeria under the SEC’s Accelerated Regulatory Incubation Programme (ARIP). The recent 20% global workforce cut, affecting 5% of staff in Nigeria, Kenya, and Uganda, signals a focus on this B2B push.

Institutions can integrate Luno’s rails to mint stablecoins, use GTXN for local collections, payouts, foreign exchange, and virtual accounts, and settle via BlockTower-issued tokens. Retail remains part of Luno’s strategy, but the institutional stream offers predictable revenue. Watch for the naira stablecoin launch and further regulatory progress; fintechs and businesses should evaluate whether Luno’s infrastructure can reduce their cross-border payment costs or enable new crypto-based services.

SOURCE: https://techcabal.com/2026/10/01/lunos-plan-for-crypto-as-a-service/