Luno Nigeria becomes first global crypto exchange admitted into SEC’s accelerated regulatory programme

Luno Nigeria has become the first cryptocurrency exchange with a global footprint to receive Approval in Principle under the SEC’s Accelerated Regulatory Incubation Programme (ARIP).

The approval marks a significant regulatory milestone for the cryptocurrency platform as Nigeria continues to formalise oversight of its digital assets industry through structured licensing and compliance frameworks.

According to the company, admission into ARIP means it has met the SEC’s requirements to participate in the programme and is authorised to operate within its approved scope, subject to the Commission’s ongoing regulatory conditions and compliance obligations.

Luno, which entered the Nigerian market in 2015 after being founded in Africa in 2013, said the approval followed an extensive engagement process with the SEC and reinforces its commitment to operating within the country’s evolving digital asset regulatory framework.

Ayotunde Alabi, chief executive officer of Luno Nigeria, described the approval as a major step in the company’s regulatory journey.

“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,” Alabi said.

“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,” he noted.

Alabi said the company remains committed to working closely with regulators while supporting the development of Nigeria’s digital asset ecosystem.

The approval comes as Luno deepens its focus on institutional services, targeting banks, fintech companies, payment providers, asset managers and corporate organisations seeking regulated digital asset solutions.

The company said regulatory clarity has become important for businesses exploring applications such as stablecoins, crypto-as-a-service platforms, treasury management and secure digital asset infrastructure.

ARIP was introduced by the SEC to improve the onboarding of digital asset service providers and other investment service operators through a supervised regulatory environment.

The programme enables the commission to assess emerging technologies and innovative business models while ensuring adequate investor protection and market integrity.

Luno’s admission into the programme’s second batch builds on Nigeria’s broader efforts to establish a transparent and structured regulatory framework for digital assets following the rollout of virtual asset licensing initiatives in 2024.

Luno said the milestone is expected to strengthen confidence among customers, institutional partners and regulators as the country’s digital asset market continues to mature.