Luno launches tokenized stock trading in South African rand
Luno, the crypto exchange founded in 2013 by South African entrepreneurs and licensed by South Africa’s FSCA, announced the launch of tokenized stock and ETF trading, available to South African investors starting in early August.
Luno promises South Africans easy access to over sixty of the world’s most valuable global companies and indexes traded on the U.S. stock market—without the need to send money abroad or wait for U.S. market hours.
The exchange claims this is the first-of-its-kind offering in South Africa, allowing customers to invest in shares of companies like Apple, Alphabet, Nvidia, and the S&P 500 using South African rand.
This means clients will not need to pay conversion fees from rand to U.S. dollars. Instant settlement and no lock-up periods ensure continuous asset liquidity.
Luno also announced that fractional shares will be available. Instead of paying nearly R4,000 for a full Apple share, clients can purchase a fraction, making global investments more affordable. A transaction fee of 1% will be charged.
“Until now, access to global financial markets was limited by red tape and outdated systems. Tokenized stocks offer South African investors easy, round-the-clock access to global investments,” said Christo de Wit, Luno’s country manager for South Africa.
New investment opportunities – and new risks
While other crypto exchanges introduced similar services earlier, Luno is the first to offer such a service on the African continent, with future expansion planned for Nigeria.
However, Luno clarified that customers are not buying the actual stocks, but rather tokens representing the shares, recorded on the blockchain.
“All underlying assets are held by regulated financial institutions,” Luno responded when asked about how tokenized shares will be regulated in South Africa.
At the same time, it is known that representatives of some companies whose tokenized shares are listed—such as Open AI and Ripple—have criticized them as “fake,” raising questions about investor protections.
As we wrote, Microsoft hack compromises South African firms and government entities
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