DCG Announces Acquisition of Luno Wallet, Entering Retail Crypto Market

Digital Currency Group (DCG) announced on Wednesday 9 September the acquisition of British multinational cryptocurrency exchange Luno.

To clarify, DCG started investing in Luno in 2014. Global tech giants Naspers Group and Balderton Capital, amongst others, are backing Luno, according to the statement.

However, DCG noted that Luno will continue to operate as an independent, wholly owned subsidiary of DCG.

“We recognise a shared commitment to building mission-driven companies that can help transform traditional financial services and improve economic freedom for people all over the world.” 

DCG Founder and CEO Barry Silbert

“Luno is a high-growth, global business, and there is a massive opportunity to expand organically and through acquisitions.”

Meanwhile, Luno co-founder and CEO Marcus Swanepoel said that the past seven years have been an incredibly exciting journey for Luno. He also clarified that it helped millions of our customers get access to crypto for the first time.

“Having the full backing of DCG just as we’re experiencing such a pivotal moment of growth in the industry is not just an exciting and important milestone for Luno, but more importantly it will significantly accelerate our ability to reach our goal to help upgrade 1 billion people to a better financial system by 2030.”

Luno co-founder and CEO Marcus Swanepoel

About Digital Currency Group

DCG is a global enterprise that builds, buys, and invests in blockchain companies all over the world. It was founded in 2015 by CEO Barry Silbert.

DCG’s mission is to accelerate the development of a better financial system through the proliferation of digital assets and blockchain technology.

About Luno

Meanwhile, Luno is a global cryptocurrency company on a mission to upgrade the world to a better financial system. Founded in 2013, Luno has built a team of nearly 400 employees. Its headquarters are in London, with regional hubs in Singapore and Cape Town. 

Moreover, it has over 5 million customers spanning over 40 countries. Luno’s products and services make it safe and easy to buy, sell, store, and learn about cryptocurrencies like Bitcoin and Ethereum.

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Hanan Hamed 48 Articles
a bilingual journalist. She writes in both Arabic and English. She has been writing news and features for 7 years now. She is specialized in business and economic news.