Luno, the UK-based crypto company which operates in Nigeria and South Africa, has relaunched in Kenya ten years after exiting the market. It previously operated locally under the name BitX before its exit in 2014. The company rebranded to Luno in 2017.
Luno’s Kenya comeback reflects a growing confidence among crypto firms eyeing the market, as the government moves closer to introducing formal regulations for digital assets. It’s the clearest indication yet that the shifting regulatory stance—and engagement with regulators—may be improving how crypto companies view the country.
“We’re excited to officially relaunch in the Kenyan market with a full suite of crypto trading services tailored for both individual investors and institutional users,” said Apollo Sande, country manager of Luno Kenya. “Our goal is to make crypto accessible, transparent, and trusted by offering the tools, education, and platforms users need to make informed investment decisions.”
The relaunch will allow Kenyan users to buy and sell cryptocurrencies instantly. Kenyan crypto traders can use the Kenyan Shilling (KES) to access live trading pairs like BTC/KES, ETH/KES, USDT/KES, and USDC/KES, along with global pairs such as BTC/USDT. The setup supports both local transactions and arbitrage trading. Luno also offers referral rewards for users who bring others to the platform and stay active.
Kenya is currently weighing new rules to regulate the crypto industry. The country’s Parliament is reviewing the Virtual Asset Service Providers (VASP) Bill, 2025, which would require companies to register with both the Capital Markets Authority (CMA) and the Central Bank of Kenya (CBK). The bill proposes stricter oversight, including local offices, executive vetting, and compliance with anti-money laundering (AML) and consumer protection standards. It also seeks to cover stablecoins, wallets, exchanges, and token offerings.
Yet, the road to regulation has been bumpy. In 2023, the government introduced a 3% digital asset tax on every transaction as part of its amended Finance Act. The move drew criticism from industry players, leading the government to revise the rate down to 1.5% in a pending bill.
In a June 20 ruling, Members of Parliament (MPs) overturned the tax and replaced it with a new excise duty that will be charged on transaction fees. The change is expected to make trading more affordable, draw users back to local platforms, and support growth in the sector.
Luno, which previously operated as a hybrid crypto platform, has recently been repositioning itself as a full-fledged cryptocurrency exchange app to attract savvy crypto investors. In 2024, the crypto firm was granted a crypto-asset service provider (CASP) licence in South Africa and is now awaiting a provisional licence in Nigeria through the Securities and Exchange Commission (SEC)’s Accelerated Regulatory Incubation Programme (ARIP).
As Kenya continues to pull the right regulatory strings, it could usher in more crypto players like Luno looking to expand into African markets amid the continent’s growing adoption of digital assets.
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