Africa’s Luno exchange plans expansion into the US

The platform assesses regulatory regimes in all 50 states

04.02.2022 - 10:25

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1 min

What’s new? Luno, Africa’s largest cryptocurrency exchange, plans to expand its operations in the United States. The work on the strategy is already underway and the platform is scheduled to launch in America later this year. This is reported by BNN Bloomberg.

Information on the BNN Bloomberg website

What does the general manager say? . Marius Reitz, the company’s general manager for Africa, said:

“It is more complex than launching in an individual market because of the different states and different regulations within each of these states, so there’s lots of moving parts. But it is a company focus for us for 2022.”

What is known about the platform? Luno was founded in 2013 and has 9 million users. Digital Currency Group was the first investor in Luno and acquired it fully in 2020. A year later, the platform raised $700 million in a deal led by SoftBank Group Corp. The company currently trades Bitcoin, Ethereum, and Ripple. Reitz expects to add new assets soon, chosen from among the world’s ten most liquid cryptocurrencies.

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