Luno, South Africa’s cryptocurrency exchange, now has three million customers (wallets) spanning 40 countries.
Marius Reitz, Luno’s GM: Africa, says that despite Bitcoin’s volatility, cryptocurrency trades continue to rise.
“In the last month, more than R80 million worth of cryptocurrency trades have been completed on Luno’s South African platform on a daily basis.”
Naspers-backed Luno was founded in 2013 by two South Africans, Marcus Swanepoel, a former investment banker, and Timothy Stranex, who previously worked for Google as a software engineer.
Today the company is headquartered in London and has more than 300 employees across offices in South Africa, Malaysia, Indonesia, Nigeria and Singapore.
“South Africa is one of our strongest markets and appetite for cryptocurrency trades is still growing – we are seeing new Luno customers learning about and buying cryptocurrencies every day,” says Reitz.
“Reaching three million wallets demonstrates the growing adoption of cryptocurrencies across the globe and reinforces our aim of reimagining a financial system where money is cheaper, faster and safer with open and equal access for everyone,” says Reitz.
The business has scaled due to the simplicity of its online and mobile platforms, offering education, bank-grade security and self-regulation, and is actively working with regulators and banks to safely increase access to cryptocurrencies.