Product Manager: Stablecoin Issuance & Wallet Infrastructure

Luno has spent over a decade making digital assets safe to own. Since 2013, we've helped millions of people across more than 40 countries buy, store and invest in crypto, working with regulators in every market and holding all customer crypto 1:1. That discipline built the licences, banking relationships, custody and compliance machinery that the next era of this market will run on

The financial system is moving on-chain. Stable coins are the only digital asset class operating at institutional scale today, and while 98% of supply is dollar-pegged, roughly half of global payment flows are not. That gap is the opportunity, and it is largest in exactly the markets Luno has spent twelve years building in.

You will join the Product Management team building Luno’s institutional business: the activation, digital asset account infrastructure and issuance products that let businesses, institutions and partners operate on Luno’s rails. The portfolio spans Luno Institutional and Block Tower, the group’s stablecoin issuance business. You'll report to the Group Product Manager and work in the Block Tower pod with dedicated engineering and UX partners.

Block Tower is the group’s institutional stablecoin issuance business, starting with ZARU, the South African rand stablecoin. You'll own the products institutions touch: the self-service issuance platform, where treasury teams mint, redeem, distribute yield and report, and Wallet as a Service, which lets those institutions use and offer stable coins inside their own products and flows. Your job is to turn a working product into a repeatable one, and to build the foundation on which future local-currency stable coins launch in new markets.

• The issuance platform: the portal, mint and redeem flows, yield distribution, user and access management, approval workflows, statements and reporting
• Wallet as a Service: how institutions embed wallets into their own platforms
• The boundary:
  What the platform needs from the underlying Luno infrastructure, and holding the line on what Block Tower owns itself
• Repeatability: the next currency, chain, market or wallet use case should be a configuration exercise, not a new build
• Commercial shape:
  Take institutional customers live and convert every manual step in their journey into a self-service product
• Customer-centric:
  Spend real time with the customers themselves: treasury teams, payment providers, market makers and financial institutions, and let their operating reality shape the roadmap
• Build the controls institutions require to trust an issuer: auditability, segregation of duties, and reporting that their own compliance teams will accept

• You have 3+ years of experience as a Product Manager, including taking a new product from zero to its first paying customers and then through the stage of making it repeatable
• You have built for institutional users: treasury, payments, capital markets or banking
• You deeply understand stable coins and the economics of issuance: reserves, yield, minting and redemption, and you can reason about how a product decision moves each of them
• You know your way around on-chain settlement - chains, custody, what moves on-chain versus off, well enough to make clear product trade-offs rather than defer them to engineering
• You are comfortable operating a young business inside a larger group: small team, broad remit, decisions made with limited information and a parent company whose infrastructure you depend on
• You work confidently in a regulated environment and can collaborate with legal and compliance on the controls a licensed issuer must carry
• You are credible in the room with institutional customers, you've been the named person in a treasury team, PSP, market maker or bank calls, and you've turned what those relationships taught you into a roadmap
• You use AI as part of how you work
  -in discovery, analysis, writing and prototyping, and you can show where it's changed your output, not just your tooling
• Remote but reachable work policy gives you the freedom to choose between working from home or the office.
• Plus the option to buy and sell up to 5…