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Press Release: Tuesday, June 22 2021, 05:15 CAT | Source: Luno

Luno, the leading global cryptocurrency company on a mission to upgrade the world to a better financial system, today announced a major milestone of eight million customers (wallets), with one million added in just 12 weeks. This follows an April announcement of having reached seven million customers in just seven weeks.

The business has grown rapidly due to ongoing interest in cryptocurrencies, the simplicity of its online and mobile platforms, offering education, bank-grade security and self-regulation. It is actively working with regulators and banks to safely increase access to cryptocurrencies.

Founded in 2013 by South Africans, Marcus Swanepoel and Timothy Stranex, Luno now has more than 400 employees across offices in South Africa, Malaysia, Indonesia, Nigeria, Singapore and the UK.

Marius Reitz, GM for Africa at Luno commented: “Within five years of launching the business, Luno had built a one million customer base in November 2017. Less than a year later, we had five million. The speed at which we are reaching new milestones is remarkable – it has taken just nine months to add three million more wallets.”

While much of the focus elsewhere has been on investment, speculation, and trading, in Africa the utility of cryptocurrencies is attractive. “About 30% of Luno’s customer base is in South Africa and we have added over 300,000 new wallets in the country over the past three months. We were the first company to enable South Africans and Nigerians to buy crypto with their local currency, which made access safe and easy. Although we operate in over 40 countries, Luno views Africa as one of, if not the most promising region for the adoption of cryptocurrencies due to its particular combination of economics and demographics.”

Luno is targeting a billion customers by 2030.

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This article is a Press Release received from Luno. Global Crypto did not receive any form of compensation for its publication, and as this material is deemed newsworthy for the Southern African blockchain industry, it was thus published accordingly.

Kratika is Global Crypto's Admin Assistant. She has extensive experience working for top tech firms from around the world, and has a wealth of knowledge in the FinTech industry.