DURBAN – Luno, a South African cryptocurrency exchange, now has 3 million customers (wallets) spanning 40 countries.
Marius Reitz, Luno’s GM: Africa, said that despite Bitcoin’s volatility, cryptocurrency trades continue to rise.
"In the last month, more than R80 million worth of cryptocurrency trades have been completed on Luno’s South African platform on a daily basis," said Reitz.
Luno was founded in 2013 by two South Africans Marcus Swanepoel, a former investment banker, and Timothy Stranex, who previously worked for Google as a software engineer. Currently the company is headquartered in London and has more than 300 employees across offices in South Africa, Malaysia, Indonesia, Nigeria and Singapore.
"South Africa is one of our strongest markets and appetite for cryptocurrency trades is still growing – we are seeing new Luno customers learning about and buying cryptocurrencies every day. Reaching three million wallets demonstrates the growing adoption of cryptocurrencies across the globe and reinforces our aim of reimagining a financial system where money is cheaper, faster and safer with open and equal access for everyone," said Reitz.