Tech in Africa
Digital Currency Group (DCG), an international crypto enterprise that builds, invests, and buys blockchain companies just acquired SA-founded Luno.
Luno began in South Africa back in 2013 and has grown since to over 5 million users across 40 countries. The crypto startup has 400 employees drawn from across Singapore, London, and South Africa.
Luno is led by co-founder Marcus Swanepoel, who is it’s CEO and has seen the company emerge as a crypto powerhouse in several emerging markets providing digital asset education and investment tools for people across Asia, Africa, Europe, and Australia.
The company is among the top exchanges in transaction volume in countries with a high number of crypto ownership i.e, South Africa, Nigeria, Malaysia, and Indonesia.
DCG has supported over 160 blockchain companies internationally and was the first to invest in Luno during its first seed round in 2013. Barry Silbert, the CEO and Founder of DCG expressed confidence in Luno by saying, “We are proud to have supported Luno as an early investor, and we recognize a shared commitment to building mission-driven companies that can help transform traditional financial services and improve economic freedom for people all over the world.”
DCG subsidiaries run as independent companies offering leadership, investment capital, and partnership for scaling their businesses. More on the acquisition of IT News Africa.
