Luno is now selling fractional shares of Apple and Tesla in Nigeria

Crypto exchange Luno is making a big play beyond Bitcoin in Nigeria, today launching a platform that lets its users buy and sell tokenized shares from major global companies like Apple, Tesla, and Nvidia. The move aims to give Nigerians a way to invest in the US stock market using Naira, sidestepping the high barriers and foreign currency problems that typically lock out most local investors.

Essentially, these aren’t the stocks themselves, but digital tokens that represent ownership of a real-world share. Luno says each token is fully backed by an actual share held in custody through its global partners, which include Kraken’s xStocks and Backed Finance. It’s a model that uses the rails of the digital asset world to offer access to traditional finance.

The move is a direct response to the massive hurdles Nigerians face when trying to invest internationally. Despite a financial inclusion rate of 74 percent, less than 5 percent of the adult population participates in the capital markets. Getting access to US dollars to invest abroad is often a complex and expensive process, a problem Luno is trying to solve by letting users buy in with their local currency.

“Global markets have always been an exclusive club, but technology now allows us to break down those walls,” said Ayotunde Alabi, CEO of Luno Nigeria, in a statement. The goal, he explained, is to give millions of Nigerians a “genuine chance to invest in the same world-leading companies… on equal footing with investors anywhere.”

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This isn’t Luno’s first attempt at this. The company rolled out the same service in South Africa in July, claiming it signed up over 10,000 investors in the first month.

For users, the experience is designed to be much simpler than traditional brokerage. You can buy a sliver of an expensive share – fractional ownership is a key feature – and trading is nearly instant. The platform will operate 24 hours a day, five days a week, meaning you can buy or sell shares even when the New York Stock Exchange is closed. Luno says it plans to expand this to 24/7 access soon.

By integrating stocks directly into its existing crypto app, Luno is clearly betting that its user base wants a single platform for both traditional and digital investments, positioning itself as a broader fintech portal rather than just a place to buy crypto.