Digital Foreign money Group Acquires Luno, a Main Bitcoin and Digital Asset Change

By | September 9, 2020

NEW YORK–()–Digital Currency Group (DCG), a world enterprise that builds, buys, and invests in blockchain corporations, as we speak introduced the acquisition of Luno, a number one cryptocurrency alternate. Based mostly in London and with regional hubs in Singapore and Cape City, Luno has grown considerably lately, with almost 400 staff and greater than 5 million world clients spanning over 40 nations. New York-based DCG shall be making a major monetary dedication to assist Luno increase globally, each in geographies the place Luno at present operates and past. Monetary phrases of the deal weren’t disclosed.

Led by co-founder and CEO Marcus Swanepoel, Luno has turn into a digital asset powerhouse in lots of rising and frontier markets, offering digital asset schooling, data, and funding instruments for people in Africa, Asia, and Europe. Luno has helped broaden the worldwide crypto funding group and the corporate has seen report progress of its buyer base in 2020. Luno is a number one alternate in a number of nations which have the best proportion of cryptocurrency possession, together with South Africa (third-highest proportion of its residents proudly owning digital currencies), Nigeria (fifth-highest), Indonesia (sixth-highest), and Malaysia (tenth-highest).1

DCG is an funding agency that has backed greater than 160 blockchain corporations around the globe. Along with its enterprise portfolio, DCG is the mother or father firm of a number of wholly-owned subsidiaries, together with Grayscale Investments (the world’s largest digital foreign money asset supervisor), Genesis (a number one digital asset prime brokerage), CoinDesk (the preeminent media and occasions firm within the business), and the recently-launched Foundry, which offers institutional experience, capital, and market intelligence to bitcoin miners and producers.

DCG first invested in Luno in its seed spherical in 2014.

“We’re proud to have supported Luno as an early investor, and we acknowledge a shared dedication to constructing mission-driven corporations that may assist rework conventional monetary companies and enhance financial freedom for individuals all around the world,” stated DCG Founder and CEO Barry Silbert. “Luno is a excessive progress, world enterprise and there’s a huge alternative to increase organically and thru acquisitions.”

DCG permits its subsidiaries to function as impartial corporations, offering management, partnership, and funding capital to assist scale the companies. The Luno management staff will stay totally intact and Swanepoel will lead acquisition efforts in his position as CEO.

“The previous seven years have been an extremely thrilling journey for Luno – serving to tens of millions of our clients get entry to crypto for the primary time,” stated Swanepoel. “DCG has been an integral a part of the Luno story throughout all of this time, and we’ve been absolutely aligned on our imaginative and prescient and tradition since day one. Having the total backing of DCG simply as we’re experiencing such a pivotal second of progress within the business isn’t just an thrilling and necessary milestone for Luno, however extra importantly it’ll considerably speed up our capability to achieve our aim to assist improve 1 billion individuals to a greater monetary system by 2030.”

“We’ve got been extraordinarily impressed with Marcus and the Luno staff since we made our preliminary funding,” added Silbert. “Marcus understands our tradition and appreciates how effectively Luno suits into the DCG household. He’s a centered, excessive integrity chief and precisely the sort of individual we would like operating one among our corporations at this vital second when the crypto business is at an inflection level.”

Based in 2013, Luno has been backed by world tech large the Naspers Group and Balderton Capital amongst others. Throughout these final seven years, Luno has maintained its dedication to upgrading the world to a greater monetary system. The corporate believes that the legacy system was constructed for a non-digital age, ignoring the wants of recent people and including pointless inefficiencies and gatekeepers. The world now has entry to new applied sciences like Bitcoin and Ethereum that may basically change how the world views and makes use of cash. Like communication evolving from landlines to cell phones, cash is lastly catching up with different data revolutions.

Luno maintains regional workplaces in Kuala Lumpur, Lagos, Jakarta, and Johannesburg, and can proceed to deal with the prevailing geographies the place it operates throughout Europe, Africa, and Asia. The Luno staff has additionally developed an aggressive street map for future progress and can in the end compete with monetary companies corporations globally. Luno is actively hiring for positions all around the world.

About Digital Foreign money Group

DCG is a world enterprise that builds, buys, and invests in blockchain corporations all around the world. Based in 2015 by CEO Barry Silbert, DCG is probably the most energetic investor within the blockchain sector, with a mission to speed up the event of a greater monetary system via the proliferation of digital belongings and blockchain expertise.

As we speak, DCG sits on the epicenter of the business, backing greater than 160 corporations in 35 nations. DCG additionally invests immediately in digital currencies and different digital belongings.

Along with its funding portfolio, DCG is the mother or father firm of Grayscale Investments, Genesis, CoinDesk, and Foundry.

About Luno

Luno is a number one world cryptocurrency firm on a mission to improve the world to a greater monetary system.

Co-founded by CEO Marcus Swanepoel and CTO Timothy Stranex, Luno launched in 2013 and has constructed a staff of almost 400 with its headquarters in London with regional hubs in Singapore and Cape City. With over 5 million clients spanning in over 40 nations, Luno’s services and products make it secure and simple to purchase, promote, retailer and find out about cryptocurrencies like Bitcoin and Ethereum.

1 Supply: Digital 2020: Global Digital Overview

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