The story of Africa’s cryptography has moved from informal negotiation between peers (P2P) to the infrastructure ready for the institution. Beincrypto contacted Luno, an exchange of crypto whose head office is in South Africa which operates on more than 40 world markets.
Luno’s director general for Africa and Europe, Marius Reitz, explains to Beincrypto how crypto exchange is positioned as a regional power in Africa.
Luno as a pioneer in Africa
Reitz started by revealing that Luno survived the Boom and Boust cycles which have come to define the crypto since its creation in 2013.
Its early objective on regulatory alignment and friendly experiences distinguish it in an industry often plagued by volatility and cervical boost.
In Africa, 57% of the population is not banished. Based on this, Luno’s mission goes beyond trade. The exchange creates access to a modern financial system, many of which have been locked.
“We are motivated by a daring vision of upgrading Africa and the world towards a better financial system. After our launch in Kenya in 2024, we are just beginning,” Reitz told Beincryptto.
Surge at the stable and Real world request
While a large part of the West is obsessed with coins and ETF speculations (Stock market negotiated funds), the history of Africa’s cryptography is rooted in pragmatism.
In South Africa, Stablecoins like the Tether USDT have now exceeded Bitcoin in commercial volume. According to Reitz, this increase is driven by the demand for assets to inflation and at PIE in dollars in the midst of the local devaluation of the currency.
Luno, already an important ramp on Fiat-to-Crypto conversions in the region, adapts quickly.
“In the past 12 months, we have seen a significant demand for stablescoins on Luno. We are now offering low -cost USDT transfers through Ethereum and Tron, with competitive costs and business in bulk for professionals via our office,” said Reitz.
In addition, Luno’s retail trade Luno Pay application integrates crypto into everyday life. South African users can now spend USDT and USDC with thousands of merchants, gaining cryptographic rewards.
Regulation as a catalyst, not a constraint
Unlike many exchanges that avoid the regulatory examination, Luno kisses him. In South Africa, where cryptographic assets are now classified as financial products by the FSCA, Luno obtained its operating license and helped shape its framework.
“Crypto prohibitions force industry underground. We have observed that markets with regulatory clarity promote responsible innovation and consumer protection, “he said.
However, challenges remain. If it is ill -aligned by the realities of the market, the next classification of South Africa of cryptographic assets, because foreign or interior investments could hinder institutional flows.
Meanwhile, the FATF travel rule sets technical and operational obstacles due to fragmented ecosystems of the supplier. However, Luno is prepared.
“As a regulated business, we have implemented the travel rule in other jurisdictions. We plan that the friction, but we are ready,” said Reitz.
The FATF’s travel rule should come into force in May 2025, barely in a month.
Adapt to fragmented African realities
Through the continent, the adoption of cryptography goes beyond infrastructure. Nigeria classified second in the world for the adoption of the crypto, but it remains paradoxical As the country restricts the negotiation of Naira P2P while accelerating the approval of exchanges within the framework of its arip framework.
For Luno, this means adopting a hyper-local approach to compliance, education and user experience.
“Africa is faced with significant challenges: regulatory fragmentation, limited banking infrastructure and scams linked to the crypto. We approach them with educational content, a strong KYC / AML and strong banking partnerships, ”said Reitz.
Mobile money is dominant in countries like Kenya and Nigeria. Mobile design and access to Luno’s stablecoin offer a convincing value proposition for retail users and discount suppliers.
Financial inclusion, a partnership both
Beyond individual users, Luno also becomes a key partner for financial technologies and payment companies. Its daycare and liquidity services now support the cross-border ramp and out of the absence for traditional and crypto-native partners.
“We receive requests from large multinationals wishing to move part of their payments to the crypto. Our infrastructure allows them to do so in complete safety, compliant and effectively Luno,” said Reitz.
This is essential for the annual market of annual versions of $ 48 billion in Africa, where stablecoins offer faster and cheaper alternatives to inherited systems.
What does the next five years look like for the African cryptography markets? For Luno, it is a convergence of the empowerment of retail and institutional maturity.
“We expect the crypto to become as omnipresent as banks – used to save, invest and transform. Stablecoins anchor commercial establishments, while ETFs and crypto -basés will dominate mature markets like South Africa,” said the executive luno in Beincryptto.
Luno is already laying the basics. Its commercial office, guard solutions and upcoming extensions of the stable reserve suggest an exchange ready to move from a friendly application to an institutional quality platform.
In a region often neglected by global players, Luno’s longevity is convincing. While the challenges concerning regulations and infrastructure persist, its mixture of conformity, innovation and education positions it among the notable actors in the arena of African cryptography.
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