Luno International Ltd has secured a Class F Digital Asset Business (DAB) license from the Bermuda Monetary Authority (BMA), giving the crypto platform a regulated foothold that is outside its traditional strongholds in Africa and the Asia-Pacific. The move positions Luno along with globally recognized digital-asset firms that have chosen Bermuda’s specialist framework, and it expands the company’s ability to serve institutional and business clients worldwide.
Why Bermuda Matters
Bermuda has been building a reputation as a friendly, purpose-built jurisdiction for digital assets and modern payment services. Most regulators try to force new cryptocurrency rules into old banking or investment laws. Bermuda did something different. They created a special licensing system built from scratch just for digital businesses.
For Luno, this means a clean legal and operational environment where it can scale cross-border services without the friction that sometimes comes from operating solely under local, domestic licences.
What the Licenses Allow Luno to do
The Class F DAB license gives Luno the green light to broaden its institutional product stack in meaningful ways:
OTC trading: Luno can run over-the-counter (OTC) desks that trade not only major cryptocurrencies but also tokenized stocks and commodities. This includes support for ZARU, a rand-backed stablecoin that is designed for institutional settlement and issued by Luno’s sister firm BlockTower (also referenced as Block Tower Tech).
Global spot markets: The license allows Luno to offer global spot trading across its full catalogue of tradable digital assets, letting institutional clients tap markets with the liquidity and pairs they need.
Wallet infrastructure: Luno can provide custody and wallet services that support secure holding and transfer of digital assets for institutional users and B2B partners.
Expanding Institutional and B2B Reach
Luno recently reorganized into three focused business lines, and this Bermuda license is explicitly aimed at strengthening the institutional and B2B arms, crypto-as-a-service, and global settlements. For clients that need settlement rails spanning multiple currencies and jurisdictions, having a regulated base in Bermuda simplifies onboarding and clarifies compliance expectations. This matters when you are moving large sums or tokenized assets across borders and when counterparties demand a high level of operational and legal certainty.
Why This is Significant for Partners and Clients
For banks, payment providers, exchanges, and corporate treasuries exploring digital asset infrastructure, Luno’s new license offers a plug-and-play option. Firms can leverage Luno’s OTC capability and custody rails to onboard crypto exposures, settle tokenized securities, or use ZARU for rand-denominated flows without setting up their own regulated entities.
The license turns Luno into a one-stop partner for institutions seeking regulated crypto services tied to a jurisdiction built for these markets.
A Track Record of Trust and Security
Luno noted that it’s been operating for more than 13 years, with a focus on regulation and security. This history is the backbone of the pitch to larger clients: regulated operations, proven controls, and a commitment to keep customer protection front and centre. Moving into Bermuda is framed as the next step in bringing those standards to a broader, global set of institutions and service partners.
What this could mean for the market
Having another well-established global player anchored in Bermuda strengthens the island’s growing ecosystem for regulated digital-asset businesses. For market participants, more licensed providers can mean better liquidity, improved counterparty choice, and clearer avenues for compliant institutional exposure to crypto and tokenised products. For Luno, the licence is a strategic extension of its commercial reach and a signal that it plans to be a meaningful intermediary for large-scale crypto settlement and tokenisation projects.
Looking ahead
Luno’s institutional customers can now ask about bespoke OTC arrangements, custody setups, and cross-border settlement using the firm’s Bermuda-anchored services. As tokenisation and stablecoins continue to gain traction with traditional finance, regulated rails like those Luno is building will be central to mainstream adoption.
