Misplaced Pages

Luno (cryptocurrency company)

Article snapshot taken from[REDACTED] with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
An editor has nominated this article for deletion.
You are welcome to participate in the deletion discussion, which will decide whether or not to retain it.Feel free to improve the article, but do not remove this notice before the discussion is closed. For more information, see the guide to deletion.
Find sources: "Luno" cryptocurrency company – news · newspapers · books · scholar · JSTOR%5B%5BWikipedia%3AArticles+for+deletion%2FLuno+%28cryptocurrency+company%29%5D%5DAFD
This article is an orphan, as no other articles link to it. Please introduce links to this page from related articles; try the Find link tool for suggestions. (January 2025)

Luno (formerly BitX) is a licensed financial services provider and cryptocurrency company in South Africa that is focused on Bitcoin and Ethereum. The company was founded by four South Africans, Timothy Stranex, Carel van Wyk, Marcus Swanepoel and Pieter Heyns and registered and headquartered (initially) in Singapore in 2013.

Market Penetration

Although Sub-Saharan Africa is a relatively small crypto currency market, spending (and not only trading) bitcoin is possible and increasingly common, using various transaction services, known as crypto asset service providers (CASP). These services permit shopping through vouchers and over 30 000 merchants accept crypto payments. LunoPay is the largest of 138 CASP, and can be used at Pick n Pay stores Luno has other operations in the United Kingdom, South Africa, Malaysia, Indonesia, Nigeria, and Australia.

Scaling Up

In 2020, Luno was acquired by the Digital Currency Group, and in October 2022 the Financial Sector Conduct Authority (FSCA) declared crypto assets a financial product,. In 2022, Luno Expeditions was launched and in 2023, Luno announced that they had passed the 12 million customers milestone. In 2023, Luno also announced that over a third of their workforce would be retrenched and on the 30 April 2024 Luno received a financial services provider licence from the FSCA to operate as a licensed crypto provider.

Media and Bubbles

Media coverage about Cryptocurrency increases trading volumes, amplifies irrationality among investors and this can lead and encourage the growth of an asset bubble Luno has partnered with Siya Kolisi since he has a huge influence, and this will be used to generate crypto-currency literacy as Luno customers face financial decisions in a volatile market.

References

  1. "BitX Rebrands as Luno, Reveals Bitcoin Sandbox Project". CoinDesk. Retrieved 2025-01-14.
  2. "Luno launches ethereum staking - TechCentral". 2023-06-22. Retrieved 2025-01-14.
  3. Planting, Sasha (2021-12-14). "Luno CEO Marcus Swanepoel talks about the company's journey To infinity and beyond: Luno CEO Marcus Swanepoel talks about the company's high-stakes journey". Daily Maverick. Retrieved 2025-01-14.
  4. "Tech in Asia - Connecting Asia's startup ecosystem". 2019-12-07. Archived from the original on 2019-12-07. Retrieved 2025-01-14.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  5. https://www.businesslive.co.za/bd/companies/retail-and-consumer/2024-06-13-pick-n-pays-bitcoin-payments-system-hits-r1m-a-month/
  6. https://www.news24.com/news24/bi-archive/this-app-converts-crypto-into-vouchers-you-can-use-at-more-than-80000-stores-in-south-africa-2022-1
  7. https://techpoint.africa/2024/10/07/luno-merchants-accept-crypto-south-africa/
  8. https://www.dailymaverick.co.za/article/2024-10-09-do-you-own-crypto-assets-sars-wants-to-hear-from-you/
  9. "Earn crypto rewards when using Luno Pay at Pick n Pay stores".
  10. "About - The World's Leading Cryptocurrency Company". Luno. Retrieved 2025-01-14.
  11. https://www.fsca.co.za/Documents/Crypto%20Market%20Study.pdf
  12. "Luno launches investment arm to back fintechs, crypto, web3 startups". DealStreetAsia. Retrieved 2025-01-14.
  13. Malinga, Sibahle (2023-07-20). "Luno hits 12m customers, despite 'crypto winter' woes". ITWeb. Retrieved 2025-01-14.
  14. "Luno retrenching 35% of staff". Retrieved 2025-01-11.
  15. "Luno: First SA licensed crypto provider under new regulations". Bizcommunity. Retrieved 2025-01-11.
  16. Li, Yi; Zhang, Wei; Urquhart, Andrew; Wang, Pengfei (2022). "The role of media coverage in the bubble formation: Evidence from the Bitcoin market". Journal of International Financial Markets, Institutions and Money. 80. doi:10.1016/j.intfin.2022.101629.
  17. https://www.itweb.co.za/article/siya-kolisi-partners-with-crypto-firm-luno/mQwkoM6YPAR73r9A
  18. https://patonbrands.com/siya-kolisi-he-darling-of-brands/


Stub icon

This South African corporation or company article is a stub. You can help Misplaced Pages by expanding it.

Categories:
Luno (cryptocurrency company) Add topic