Crypto Exchange, Luno, Is Now a Wholly-Owned Subsidiary of Digital Currency Group (DCG)

Cryptocurrency exchange Luno has been acquired by New York-based digital asset firm Digital Currency Group.

London-based Luno, which also has hubs in Singapore, Cape Town, Kuala Lumpur, Lagos, Jakarta, and Johannesburg, has about 400 employees and caters to more than five million customers. The company, which is also backed by technology investor Naspers and others, will continue to be led by CEO Marcus Swanepoel.

Barry Silbert’s DGC, which backs more than 160 blockchain companies and is the parent of Grayscale Investments, Genesis, Foundry, and Coindesk, first invested in Luno in its seed round in 2014. Now, Luno has also become the independent, wholly-owned subsidiary of DCG.

“Luno is a high growth, global business, and there is a massive opportunity to expand organically and through acquisitions,” said Silbert, founder, and CEO of DCG.

With a long term vision to “upgrade the world to a better financial system,” the company targets bringing 1 billion people into the mix by 2030.