Crypto platform Luno plans aggressive African expansion
Company seeks banking partners across the continent to facilitate growth
Cryptocurrency platform Luno, which is backed by Naspers and Rand Merchant Investment Holdings, is planning an aggressive push into at least 18 more African countries, says Marius Reitz, the exchange’s manager for SA. Luno — which operates in SA, Nigeria, Europe and Southeast Asia — is seeking banking partners across the continent to facilitate its expansion, Reitz said, declining to name which countries the company is targeting. “We’ve started engaging with banks and regulators,” he said. Luno’s new African regional headquarters in Johannesburg will grow from a team of eight to 40. Luno published a survey on Friday showing that 69% of respondents in SA said they are familiar with cryptocurrencies, while 29% said that they own a cryptocurrency. “That’s very encouraging given that bitcoin is 10 years old this year,” Reitz said. SA and other emerging markets, including Malaysia and Indonesia, “scored higher than most countries in Europe except for Lithuania” in terms of familiarity an...
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