The Digital Currency Group-owned exchange is restructuring around white-label crypto services, cross-border settlement and emerging-market stablecoins while using automation to run with a leaner structure.
Luno is cutting about 20% of its staff worldwide as the Digital Currency Group-owned exchange reshapes its business around institutional infrastructure, white-label crypto services and emerging-market stablecoins. Chief executive James Lanigan said investments in automation and broader operational improvements are changing the resources needed to run the company, allowing for a leaner structure. Luno, which is headquartered in London and has 16 million users across Africa and Asia-Pacific, is making its second major workforce reduction after cutting 35% of staff in January 2023. The company plans to expand its business-to-business unit so lenders, fintechs and telecoms firms can offer crypto under their own brands using Luno's liquidity, wallet infrastructure and compliance systems. Discovery Bank is already a partner, and Luno is also a founding participant in ZARU, a rand-backed stablecoin launched with Sanlam, Lesaka Technologies and EasyEquities as it looks to replicate that model in other emerging markets.