Blockchain investment firm Digital Currency Group (DCG) has acquired the retail-focused cryptocurrency exchange Luno.
According to a press release on September 9, DCG has acquired the London-based Luno for an undisclosed amount. The release claims Luno has grown significantly in recent years, with regional hubs in Singapore and Cape Town and over five million customers spanning 40 countries.
DCG first made an investment into Luno in its seed round in 2014 and intends to help the platform grow and expand globally.
DCG founder and CEO Barry Silbert said of the acquisition,
Luno is a high growth, global business and there is a massive opportunity to expand organically and through acquisitions.
Luno marks the first combined wallet and exchange subsidiary for the New York-based DCG, which has made previous investments into retail businesses around the world.
Marcus Swanepoel, co-founder and CEO of Luno, called DCG’s backing a growth accelerator for the exchange.
He said,
The past seven years have been an incredibly exciting journey for Luno – helping millions of our customers get access to crypto for the first time. DCG has been an integral part of the Luno story during all of this time, and we’ve been fully aligned on our vision and culture since day one.
Founded in 2013, Luno has become a leading exchange on the African continent and a major player in Southeast Asia’s retail market.
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