Exchange (holds your funds for you)
LunoB4/5· Medium risk
Facts last reviewed 27 Sept 2026
A DCG-owned exchange focused on Africa and Southeast Asia: licensed by the FSCA (South Africa), SC (Malaysia), OJK (Indonesia), and BMA (Bermuda); monthly proof of reserves verified by Moore. It has closed accounts in some regions since 1/9/2026.
Compare a move (switching cost) →History: published and paid rates, incidents, legal status →Official site ↗
Why this tier
- Meets: Publishes a monthly proof of reserves (Merkle) that users can verify themselves
- Meets: Licensed by a major regulator: Nam Phi (FSCA), Malaysia (SC), Indonesia (OJK), Bermuda (BMA)
- Meets: Operating since 2013 (13 years)
- Falls short: No user protection fund disclosed
- Meets: No recorded incident causing user losses on the exchange
- Note: Luno stopped serving certain regions (without publishing a list) to focus on Africa and Southeast Asia; accounts in those regions have been closed, and Luno may charge a monthly fee on remaining retained balances.
- Note: United Kingdom: Luno states that it is not regulated in the United Kingdom.
- Note: Cut approximately 20% of its global workforce, shifting towards institutional and B2B customers.
Tier history
- 29 Sept 2026B· Medium riskMedium risk
Products
| Coin | You earn | Highest rate | Tier | Product | Term | Conditions |
|---|---|---|---|---|---|---|
| USDC | 3.44% | Highest rate3.44% | B4/5· Medium risk | USDC Earn (South Africa only) | FlexibleWithdraw any time |
USDCTier: A lowest risk, D active incident. The number after the letter is the criteria met.
Legal status by country
Taken from regulators’ registers and notices. A row without a source or a month confirmed says so.
Vietnam
Does not serve · Oct 2025
Luno only allows residents of Kenya, Nigeria, South Africa, Australia, Indonesia, Malaysia, and the United Kingdom to open accounts (support page, archived 15/10/2025); Vietnam is not on the list.
Source ↗Europe (EEA)
Does not serve · Aug 2026
Luno does not have a MiCA licence and ceased serving customers in some EU countries: deposits, purchases, and incoming transfers stopped from 1/6/2026; crypto transfers to external wallets stopped on 29/6/2026; sales and withdrawals were restricted on 31/8/2026; accounts closed from 1/9/2026.
Source ↗UAE (Dubai)
Does not serve · Oct 2025
Luno only allows residents of Kenya, Nigeria, South Africa, Australia, Indonesia, Malaysia, and the United Kingdom to open accounts (support page, archived 15/10/2025); the UAE is not on the list.
Source ↗Indonesia
Licensed · PT Luno Indonesia Ltd · Sept 2026
Luno's licensing page states that PT Luno Indonesia Ltd is licensed by OJK as a Pedagang Aset Keuangan Digital, licence No. KEP-17/D.07/2026. Luno is the latest exchange added to OJK's list of licensed PAKDs (5/2026).
Source ↗Nigeria
In-principle approval · Luno Fintech Nigeria Limited · Jul 2026
On 2/7/2026, SEC Nigeria admitted Luno Fintech Nigeria Limited to the ARIP programme with approval in principle (AIP); the SEC clearly states that an AIP is not yet an official licence.
Source ↗