DCG will assist gasoline Luno’s world progress in Africa, Asia, Europe, and past
Luno will proceed to function as an unbiased, wholly-owned subsidiary of DCG
Digital Currency Group (DCG), a worldwide enterprise that builds, buys, and invests in blockchain corporations, as we speak introduced the acquisition of Luno, a number one cryptocurrency trade. Primarily based in London and with regional hubs in Singapore and Cape City, Luno has grown considerably lately, with practically 400 staff and greater than 5 million world clients spanning over 40 nations. New York-based DCG will likely be making a big monetary dedication to assist Luno broaden globally, each in geographies the place Luno presently operates and past. Monetary phrases of the deal weren’t disclosed.
Led by co-founder and CEO Marcus Swanepoel, Luno has grow to be a digital asset powerhouse in lots of rising and frontier markets, offering digital asset schooling, information, and funding instruments for people in Africa, Asia, and Europe. Luno has helped broaden the worldwide crypto funding neighborhood and the corporate has seen document progress of its buyer base in 2020. Luno is a number one trade in a number of nations which have the very best share of cryptocurrency possession, together with South Africa (third-highest share of its residents proudly owning digital currencies), Nigeria (fifth-highest), Indonesia (sixth-highest), and Malaysia (tenth-highest).1
DCG is an funding agency that has backed greater than 160 blockchain corporations around the globe. Along with its enterprise portfolio, DCG is the mum or dad firm of a number of wholly-owned subsidiaries, together with Grayscale Investments (the world’s largest digital foreign money asset supervisor), Genesis (a number one digital asset prime brokerage), CoinDesk (the preeminent media and occasions firm within the business), and the recently-launched Foundry, which supplies institutional experience, capital, and market intelligence to bitcoin miners and producers.
DCG first invested in Luno in its seed spherical in 2014.
“We’re proud to have supported Luno as an early investor, and we acknowledge a shared dedication to constructing mission-driven corporations that may assist remodel conventional monetary providers and enhance financial freedom for individuals all around the world,” stated DCG Founder and CEO Barry Silbert. “Luno is a excessive progress, world enterprise and there’s a huge alternative to broaden organically and thru acquisitions.”
DCG permits its subsidiaries to function as unbiased corporations, offering management, partnership, and funding capital to assist scale the companies. The Luno management crew will stay fully intact and Swanepoel will lead acquisition efforts in his function as CEO.
“The previous seven years have been an extremely thrilling journey for Luno – serving to hundreds of thousands of our clients get entry to crypto for the primary time,” stated Swanepoel. “DCG has been an integral a part of the Luno story throughout all of this time, and we’ve been absolutely aligned on our imaginative and prescient and tradition since day one. Having the complete backing of DCG simply as we’re experiencing such a pivotal second of progress within the business is not only an thrilling and necessary milestone for Luno, however extra importantly it should considerably speed up our capability to achieve our purpose to assist improve 1 billion individuals to a greater monetary system by 2030.”
“We now have been extraordinarily impressed with Marcus and the Luno crew since we made our preliminary funding,” added Silbert. “Marcus understands our tradition and appreciates how effectively Luno suits into the DCG household. He’s a targeted, excessive integrity chief and precisely the form of particular person we would like operating one in every of our corporations at this crucial second when the crypto business is at an inflection level.”
Based in 2013, Luno has been backed by world tech large the Naspers Group and Balderton Capital amongst others. Throughout these final seven years, Luno has maintained its dedication to upgrading the world to a greater monetary system. The corporate believes that the legacy system was constructed for a non-digital age, ignoring the wants of recent people and including pointless inefficiencies and gatekeepers. The world now has entry to new applied sciences like Bitcoin and Ethereum that may basically change how the world views and makes use of cash. Like communication evolving from landlines to cell phones, cash is lastly catching up with different info revolutions.
Luno maintains regional places of work in Kuala Lumpur, Lagos, Jakarta, and Johannesburg, and can proceed to give attention to the prevailing geographies the place it operates throughout Europe, Africa, and Asia. The Luno crew has additionally developed an aggressive highway map for future progress and can in the end compete with monetary providers companies globally. Luno is actively hiring for positions all around the world.
About Digital Foreign money Group
DCG is a worldwide enterprise that builds, buys, and invests in blockchain corporations all around the world. Based in 2015 by CEO Barry Silbert, DCG is probably the most lively investor within the blockchain sector, with a mission to speed up the event of a greater monetary system by means of the proliferation of digital property and blockchain know-how.
Immediately, DCG sits on the epicenter of the business, backing greater than 160 corporations in 35 nations. DCG additionally invests instantly in digital currencies and different digital property.
Along with its funding portfolio, DCG is the mum or dad firm of Grayscale Investments, Genesis, CoinDesk, and Foundry.
Luno is a number one world cryptocurrency firm on a mission to improve the world to a greater monetary system.
Co-founded by CEO Marcus Swanepoel and CTO Timothy Stranex, Luno launched in 2013 and has constructed a crew of practically 400 with its headquarters in London with regional hubs in Singapore and Cape City. With over 5 million clients spanning in over 40 nations, Luno’s services and products make it protected and straightforward to purchase, promote, retailer and study cryptocurrencies like Bitcoin and Ethereum.
1 Supply: Digital 2020: Global Digital Overview