Luno to cut about 20% of global staff in restructuring

Luno is cutting about 20% of its global workforce as the Digital Currency Group-owned crypto exchange reshapes its operations around greater automation, weaker retail trading activity and a bigger push into business-to-business services. CEO James Lanigan confirmed the move and said investments in automation and other operational improvements over the past year had changed the resources needed to run the business, though he did not disclose how many employees would be affected. The exchange said it will continue investing in retail products, infrastructure and regulatory compliance while expanding a model that combines its consumer platform with a white-label service for banks, fintechs and telecommunications companies. Luno said the structure brings together its 16 million-user retail exchange and a service that lets partners offer crypto products under their own brands, with Luno providing liquidity, wallets and compliance infrastructure. The layoffs mark Luno’s second major workforce reduction in three and a half years, after a 35% staff cut in January 2023 during a difficult market period. The restructuring comes after Luno decided to stop serving customers in some markets from Sept. 1 and focus on Africa and Southeast Asia. Bloomberg said the company’s business-to-business model was illustrated by Discovery Bank in South Africa, which began offering access to more than 50 cryptocurrencies through Luno in December 2025 after announcing the integration the previous month. The company was acquired by Digital Currency Group in 2020.