Categories: ExchangesReports

Luno: South African Crypto Exchange Thriving Internationally

South Africa’s cryptocurrency exchange, Luno, will now extend its reach to the US market. It is currently almost operating everywhere; in Africa, Asia, and Europe.

The mega crypto exchange has been expanding internationally in recent times, after it has been acquired by Digital Currency Group in September, reported.

Luno was launched in Cape Town, South Africa in 2013. It quickly took off in popularity, building a customer base of over five million in 40 countries worldwide, reported Moneyweb. The exchange has since dominated the cryptocurrency market of Africa’s top crypto hubs, namely South Africa and Nigeria.

How Did Luno Build its Fame?

Luno is the first crypto exchange in South Africa. It played main role in promoting digital assets in the country, garnering the attention of about 1 million nationals.

First, Luno dealt in Bitcoin, but has later expanded to include Litecoin, Bitcoin Cash, Ripple, and Ethereum. The company always applies innovations brought about by blockchain in the financial sector.

Furthermore, Venture Burn recently reported that Luno had opened up a branch in Australia, becoming an international competitor amongst crypto-exchanges. In fact, one of the reasons which drew Luno to Australia was the country’s burgeoning fintech sphere.

The company has reached global prominence and seized a spot among best exchanges in the world. Moreover, South Africa, an increasingly great supporter of cryptocurrency in Africa, has recently developed its regulations regarding digital assets.

Raïs Tarek

Journalist and lawyer, with a passion for global politics, economics and current affairs.

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