Luno Targets Institutional Expansion Beyond Africa and Asia-Pacific With Bermuda License

Crypto exchange Luno is expanding its institutional and B2B footprint beyond Africa and Asia-Pacific. This comes after its international arm has secured a Class F Digital Asset Business (DAB) license from the Bermuda Monetary Authority (BMA).

The license gives Luno International a regulated base in Bermuda as the company looks to scale its Crypto as a Service and Global Settlements businesses and serve clients outside its traditional markets which have been focused on Africa and Asia Pacific.

Luno said the new jurisdiction will also support its ability to extend digital-asset infrastructure to global partners and facilitate cross-border settlement.

What Does Luno’s Bermuda License Mean

The Class F licence is Bermuda’s full digital-asset licence. Under the BMA framework, it can cover activities including issuing/redeeming digital assets, digital-asset payments and transfers, exchanges, custody/wallet services and other digital-asset services.

For Luno specifically, the Bermuda licence allows its international entity to offer OTC trading. This includes crypto, tokenized stocks and commodities, as well as ZARU, the rand-backed stablecoin issued by Luno’s sister company BlockTower.

It can now provide Global spot markets across Luno’s tradable digital assets. As per its official announcement, this makes its Wallet infrastructure, including custody and transfer of digital assets also available.

What Are Luno’s Institutional Services

The move comes as Luno has been rapidly broadening its institutional offering beyond conventional cryptocurrency trading. Its OTC desk now provides access to eight institutional instruments. This spans across tokenized commodities, tokenized equities, a Bitcoin-linked preferred stock and a major DeFi asset.

The lineup includes tokenized exposure to silver, platinum, palladium, copper, uranium, Strategy preferred stock and SpaceX, alongside HYPE, the native token of Hyperliquid.

Seven of those tokenized products are built on Kraken’s xStocks infrastructure, according to Luno. The exchange said the xStocks infrastructure had processed more than $25 billion in transaction volume by June 2026.

Luno’s institutional expansion also extends into major technology stocks. In July, the exchange introduced TSMx, a tokenized product tracking Taiwan Semiconductor Manufacturing Company (TSMC).

For institutional clients, Luno sees its OTC desk as an execution and settlement layer rather than simply another trading venue. Its institutional guide says institutional crypto spot OTC volumes grew 109% year-on-year in 2025. Institutional investors accounted for more than 65% of total crypto trading volume, with the majority executing through OTC channels.

That institutional push is increasingly visible in Luno’s product strategy. Its OTC desk is designed for institutional clients, high-net-worth individuals and family offices, with bespoke execution, custody and settlement arrangements for larger positions.

The Bermuda license could therefore become an important piece of that infrastructure strategy.